Kevin Keegan's future as Newcastle manager remains unknown, despite assurances he has not quit the club from his board of directors.
His second spell at the helm looked to have ended after only eight months amid claims he had clashed with owner Mike Ashley over transfer policy.
But the Magpies insisted he had not been sacked, while the League Managers' Association said he had not quit.
"Newcastle Football Club and its fans are massively important to Kevin," said LMA chief executive Richard Bevan.
Bevan revealed he had spoken at length to Keegan, 57, on Tuesday evening.
"He has not resigned, he's in a difficult position and he'll be discussing important issues with the Newcastle board over the next few days," Bevan told BBC Radio 5 Live.
"I can understand there is an eagerness for more information on the problems but at this stage it is important that we let the parties communicate and it would be inappropriate for me to pre-judge any outcome or explain the issues much more at this particular point.
"I'm just saying he has not resigned, he will be working hard to communicate with the Newcastle board and we'll have to wait and see what the outcome is over the next few days."
He added that the LMA will keep supporters, media and other stakeholders within the game fully informed of developments.
 | For the avoidance of doubt, the club has not sacked Kevin Keegan as manager Club statement |
Keegan's future came under the spotlight after he made his feelings plain over the Premier League club's summer transfer activity at a meeting on Monday.
Following those talks, he was again summoned by the hierarchy on Tuesday morning as rumours of his exit started to surface.
BBC Sport understands Keegan had at one stage left the club, although Newcastle issued a statement later on Monday, insisting he was still their manager.
"Newcastle United can confirm that meetings between members of the board and manager Kevin Keegan were held both yesterday (Monday) and today (Tuesday)," it read.
"Kevin has raised a number of issues and those have been discussed with him.
Report: Keegan confusion hits Newcastle
"The club wants to keep progressing with its long-term strategy and would like to stress that Kevin is extremely important, both now and in the future.
"Newcastle United values the effort and commitment shown by Kevin since his return to St James' Park 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 cause of the latest crisis at St James' Park seems to centre on Keegan's unhappiness with the club's relative lack of signings in recent weeks.
He had voiced his belief on Friday - after winger James Milner's £12m departure for Aston Villa - that he would have three or four more players at his disposal by midnight on Monday.
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In the event, only striker Xisco and loan signing Ignacio Gonzalez arrived on Tyneside, while troubled midfielder Joey Barton was the subject of an unsuccessful approach from another top-flight club.
The role of former Leeds manager Dennis Wise, who occupies the position of executive director of football at the club, is another subject likely to have been under discussion at the meetings.
Following news that Keegan's position was under threat, Newcastle supporters flocked to St James' Park on Tuesday to register their support for the manager and protest against Ashley, calling for him to step down.
It was a very different reaction for Ashley back in June 2007, when he was deemed the club's saviour after completing a £135m takeover.
Angry Newcastle fans gathered outside the ground during the day
He then sacked Sam Allardyce as manager at the start of 2008 after a run of poor results and shocked the football world by bringing back Keegan for a second spell in charge of the club.
In his first stint as manager, between 1992 and 1997, he saved the Magpies from dropping into the third tier of English football and almost guided them to the Premier League title in 1997.
Keegans relationship with Ashley was also not helped when in May the manager said he did not believe Newcastle could become a top-four club.
The Magpies currently lie 11th in the table after a positive start to the new campaign.
After drawing 1-1 with Manchester United, they beat Bolton 1-0 before losing to Arsenal 3-0.
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