I wanted to slap Kevin Keegan, says Newcastle's managing diector

The chief executive of Newcastle United has spelled out the extent of his bitter rift with former manager Kevin Keegan.

While downing Mojito cocktails in Dubai, Derek Llambias was heard to say of one meeting with the 57-year-old England legend: "I had to have a third person in the room when I met him otherwise I would have slapped him."

The remark was made on Tuesday as Llambias, club owner Mike Ashley and director of football Dennis Wise visited the oil-rich state in a failed bid to sell the crisis-hit Premiership outfit.

Ashley, 45, was said to have been angered by an "insulting" offer of less than £200million from representatives of Dubai's royal family and snubbed a meeting with them that night, staying in a bar with Llambias and Wise instead.

Ashley was said to want £480million - more than twice the sum he paid for United in 2007.

He told Llambias: "I would rather stick with the club than sell at that price.

"I will put up with the fury of the fans. I am not going to sell for a knock-down price."

Meanwhile, it emerged yesterday that Ashley could have sold the club to Dubai investors three months ago.

The unknown potential buyers proposed a takeover which would have put a Geordie management team in place at St James' Park - a move seen as key in having a deal accepted by United fans.

But after making contact with the club, the London brokers representing the client never heard anything back.

It is not known if they would still do business.

Peter Cadman, a solicitor representing Ashley and Llambias, said in a statement yesterday: "Mr Ashley may well have expressed his views that the discussed valuation for the club was too low.

"His approach was not to express disinterest in either the views or the opinions of the fans.

"Mr Llambias does recall saying he was very frustrated by Mr Keegan during a negotiations meeting that he could have slapped him."

NEWCASTLE OWNER MIKE ASHLEY

AGE 45

Home Burnham Bucks

Job Billionaire sportswear boss

MANAGING DIRECTOR DEREK LLAMBIAS

AGE 51

Home London

Job Newcastle United MD