MICHAEL OWEN and Joey Barton are at the centre of the explosive bust-up that has torn Newcastle and Kevin Keegan apart.

TV stations incorrectly reported yesterday that Keegan had been sacked as boss though it is unclear whether he offered to resign or will stay at Toon.

But we can reveal a bitter row DID break out between Keegan and Newcastle owner Mike Ashley on Monday.

IT'S WOR ... Kevin Keegan had a bust-up with Mike Ashley over hitman Michael Owen

Without Kevs approval, Ashley tried to sell striker Owen and controversial midfielder Barton.

Both Mark Hughes at Manchester City and Everton boss David Moyes declared their interest in Owen, while Portsmouth chief Harry Redknapp moved in for Barton.

Kevin has raised a number of issues and those have been discussed with him.

The club wants to keep progressing with its strategy and would like to stress that Kevin is extremely important, now and in the future.

Newcastle values the effort and commitment shown by Kevin and wants him to continue to play an instrumental role as manager of the club.

For the avoidance of doubt, the club has not sacked Kevin Keegan as manager.

The reality may be that the rift between Ashley and Keegan cannot be repaired and that a deal to part company may still be struck.

If that were to happen, it is understood Newcastle would want Spurs assistant boss Gus Poyet as team boss working alongside his old pal, Toon executive director Dennis Wise.

Both are friends of Magpies vice-president Tony Jimenez.

But Keegan was incensed when he found out what was going on especially as he had already been forced to accept the £12million sale of star winger James Milner to Aston Villa.

A Toon source said: Kevin believed he would get money to spend from Milners sale but it was clear he wasnt going to get a penny to spend on the last day of the transfer window.

So when he found out the club were trying to sell Owen and Barton, he hit the roof. It was the final straw.

In an astonishing showdown with the board, Keegan insisted that Owen and Barton had to stay.

He argued there was no time to get in replacements and that they were essential for the clubs wellbeing.

Our source added: It was a tense and angry showdown and Kevin wasnt giving any ground. He was determined players were not going to be sold without his say so.

He felt that, while he had little control over the players coming in, he could certainly do something about anyone going out.

But the board didnt like his attitude. As far as they are concerned, Keegan was being paid handsomely to accept their decisions.

Keegans future was not totally clear last night, although the club issued a statement insisting he is still in charge.

It read: Newcastle can confirm that meetings between members of the board and Kevin Keegan were held both yesterday and today.