The St James’ Park club are now under the control of Saudi Arabia‘s Public Investment Fund with British businesswoman Amanda Staveley and her advisors tasked with finding a new manager.
Bruce, 60, is far from popular with the fans and the new owners are very much aware his presence in the dug-out for Sunday’s home game against Tottenham will have a negative impact.
His pay-off will be around £8million, small change for the new owners, who have assets totalling £295billion, a figure increasing all the time.
Bruce’s assistant Graeme Jones is expected to be put in temporary charge for the Spurs game and potentially several more fixtures with the owners realistic that the search for Bruce’s replacement won’t be completed overnight.
So who are the names in the frame to take over as manager and who has the best credentials?
Swiss coach Favre, 63, has been out of work since Borussia Dortmund sacked him last December following a poor run of one win in five that culminated in a 5-1 home thrashing by Stuttgart.
The Leicester City manager has been linked with the Newcastle position ever since reports emerged that the much-delayed takeover was going to actually happen.
Leicester are 13th in the Premier League at the moment and after two seasons of agonising top four near-misses, there may be a case to suggest it is time for Rodgers to take on a new project.
Another intriguing possibility is Rangers boss Steven Gerrard. It could be his final season in charge at Ibrox and Gerrard is said to be monitoring the situation on Tyneside closely.
It is to Gerrard’s enormous credit that he took on the Rangers job – which comes with intense pressure and scrutiny – as his first role in management bar a post as one of Liverpool’s youth team coaches.
Fonseca offers Newcastle an interesting options – he brings pedigree, a high profile and a track record of winning trophies.
The Portuguese is understood to be one of the foreign candidates being considered for the role as Bruce’s successor.
Fonseca, 48, left Roma at the end of last season before Jose Mourinho came in and he came close to landing the Tottenham job over the summer.
Howe ended his long and successful association with Bournemouth in August last year and came close to taking the Celtic job this summer.
The 43-year-old now finds himself among the favourites to take over at Newcastle and would be available to start right away.
Undoubtedly a big name but also a coach who would bring experience of the Premier League from his time in charge of Wigan and then Everton.
The 48-year-old from Spain has been in charge of Belgium since 2016 but despite the country’s ‘Golden Generation’ holding the No 1 spot in the FIFA Rankings, they have been unable to win a piece of silverware.
Certainly the most glamorous name on the list of potential candidates, Conte would undoubtedly be the man to go for if Newcastle’s owners wanted to make an impact with a big name.
Crucially, he’s also out of a job at the moment having left Inter Milan just days after securing their first Serie A title in 11 years.
Wait, does Zinedine Zidane have a job currently? (MailOnline)
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