Sheffield Wednesday boss Steve Bruce has confirmed he has held talks about becoming Newcastle manager, but says he is waiting for both clubs to agree a compromise deal.
Sky Sports News understand Newcastle hoped to appoint Bruce as a replacement for former boss Rafael Benitez with a compensation payment of around £1m, but Wednesday owner Dejphon Chansiri is holding out for significantly more than that.
Speaking before Wednesday's friendly against Lincoln at Sincil Bank on Saturday, Bruce told Sky Sports News: "It's in the hands of the two clubs at the moment.
"There is nothing really to talk about until the two clubs reach some sort of a compromise."
When asked to confirm if he had already held talks with Newcastle, Bruce said: "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.
"It's football and has come from nowhere in the last two or three days, so we will see what this weekend brings."
The Newcastle squad travel to China for the Premier League Asia Trophy on Saturday, with caretaker managers Ben Dawson and Neil Redfearn in charge of team affairs.
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