Sky Sports News understands Newcastle are ready to make an official approach to Portsmouth for Harry Redknapp.

Redknapp has emerged as the overwhelming favourite to replace Sam Allardyce at St James' Park following Allardyce's departure on Wednesday.

Newcastle owner Mike Ashley is believed to be a big admirer of Redknapp and sees him as the man to lead the club forward.

Despite denials from Redknapp and Portsmouth on Thursday the 60-year-old is believed to be weighing up his options.

Portsmouth chief executive Peter Storrie has indicated that the club are preparing themselves for a fight to keep hold of Redknapp.

"Harry is the manager, Harry is the manager we see going forward," Storrie told The Independent.

"Obviously, if Harry comes to us and says , 'I want to leave', then it's a different scennario.

"We've come so far as a club and we've got so far to go, compensation is irrelevant.

"I sincerely hope we never get into that situation."

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