Magpies' Emerton deal collapses

The Premiership outfit agreed an £8 million fee with the Dutch giants last week for Emerton and had hoped to seal a deal before this weekend's transfer window deadline.

The deal had been held-up over both clubs failing to reach an agreement over the payment of the fee.

Newcastle had hoped to pay the fee in instalments and while Feyenoord were willing to accept these conditions they could not reach a compromise over a bank guarantee from The Magpies.

Feyenoord president Jorien van den Herik rejected a last-ditch bid from Newcastle to keep the deal alive and Emerton will now stay at De Kuip Stadium for the immediate future.

"Final consultations only lasted four e-mails this morning," Feyenoord sporting manager Jan D. Swart told the club's official website.

"What's more, van den Herik's final answer to his colleague was a very brief one. It was basically: please do not waste my time in the future.

"Under the current market conditions it is naturally very strange to expect a selling party to make do with money that to its knowledge may not exist or may never arrive.

"The final payment would have been made as late as 1 September 2005, but it would not be guaranteed.

"The chairman of Newcastle United was very surprised that Feyenoord refused."

The news of the deal collapsing will be a major blow for Magpies boss Bobby Robson as he tries to strengthen the squad before the transfer deadline and means he will have to switch his attentions elsewhere.