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Sheffield Wednesday boss Steve Bruce has confirmed he has held talks with Newcastle United over the vacant manager's post but said he is waiting for both clubs to agree a compromise deal.
Bruce, 58, is one of the frontrunners to replace Rafa Benitez, who quit St James' Park last month at the end of his contract.
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Sky Sports reported Newcastle had hoped to confirm Bruce's appointment with a compensation payment of around £1 million, but Sheffield Wednesday are holding out for significantly more than that.
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When asked to confirm if he had already held talks with Newcastle, former Manchester United defender Bruce told Sky Sports: "I have had a conversation, yes.
"It has happened so quickly that I have to take stock of the situation, it's in the hands of both clubs and I will see where it develops over the next 24 to 48 hours.
"There is nothing really to talk about until the two clubs reach some sort of a compromise."
Former Sunderland and Aston Villa boss Bruce was appointed as Sheffield Wednesday manager in January and guided them to a 12th-placed finish in the Championship.
Source: espn.co.uk