NEWCASTLE United chairman Freddy Shepherd can see no reason why the Magpies can't be back in Champions League action as early as next season.

After being dumped out of Europe's premier club competition in the qualifying stage by Partizan Belgrade and spending most of the season in the Premiership's bottom three, Shepherd has witnessed a recent Magpies renaissance.

The win at Fulham on Tuesday night put Sir Bobby Robson's side into the top half of the Premier League for the first time this season and, according to Shepherd, that is just the start.

"Why shouldn't we be looking at the top-four again?" said Shepherd, who saw £7m wiped off the club's value following their Champions League exit in August.

"We are a top six side, make no mistake about that. Look at our squad. Even without the star players the other night, the others came in and did a great job.

"I have said before we are slow starters but we are fast on the straight."

A win tomorrow at home to Portsmouth would put Newcastle within touching distance of fourth spot - which would guarantee a Champions League qualifying place - and Shepherd believes the squad Robson has assembled is more than capable of ending the 34-year wait for silverware.

The chairman also believes that first success can be the trigger for a host of trophies.

"We have invested £190m in players and £100m in the stadium," said Shepherd.

"We have the ground, the training facilities, the players and a great manager.

"Everything is in place and I have always said win one (trophy) and others will follow."

One of the key components on the field is Alan Shearer and, even at a then world record £15m back in the summer of 1996, Shepherd believes it was the best piece of business the club has done.

Shearer made it nine goals for the season with his brace at Loftus Road and, at the same time, put himself into second place in the Newcastle United all-time scoring charts behind Jackie Milburn.

"He is the best value, pound for pound, this club has ever had," said Shepherd of the club captain.

"Everyone knows how people at this club feel about him. He was written off five or six years ago but I have always believed in him."

* Wales international Craig Bellamy is expected back in Newcastle soon with Shepherd promising a "full investigation" into how he twice returned from international duty injured.

The operation in Colorado to cure tendinitis in his knee was successful, but the fall-out from how the injury occurred refuses to disperse.

"We were always concerned that there was a problem right back to the first Wales game," he said.

"We're now going to have a full inquiry into it when he returns after what has been a successful operation, and we're still waiting for an explanation from the Welsh FA."

* Kieron Dyer will be out for at least ten days with the hamstring injury that forced him to miss Tuesday's win at Fulham. Sir Bobby Robson could rest him until the UEFA Cup game in Basel on November 6.

* The manager was among a host of famous faces at the launch of Newcastle United - The Official History Video/DVD yesterday.

Present day stars Jermaine Jenas and Jonathan Woodgate were joined by Magpies' legends Peter Beardsley, Malcolm Macdonald and Charlie Crowe, among others, at St James' Park yesterday.

After viewing the production Robson said: "It brought back a lot of memories for me. I left the North-East in 1950 and returned in 1999. It was a joyous day when I said yes to the manager's job."

"Newcastle - The Official History" is available on video and DVD from Granada Video/VCI from October 27, 2003, priced £14.99/£19.99

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