BRYAN ROBSON has played down Chelsea's chances of challenging for the title and warned Manchester United and Arsenal that Newcastle still pose the biggest threat to their Premiership supremacy.

Former Middlesbrough manager Robson has been out of football since losing his job at the Riverside two years ago, and last week admitted he would love to return to Old Trafford as right-hand man to Sir Alex Ferguson.

Robson reckons the Red Devils will hang on to their crown next May despite Roman Abramovich's Russian Revolution at Stamford Bridge.

Following Abramovich's £150m takeover, Chelsea have money to burn and Man. United's Argentinian midfielder Juan Sebastian Veron is lined up to join them in a £14m deal.

But Robson maintains it will "take time'' for Chelsea to fashion a title-winning team and is backing Sir Bobby Robson's vibrant young Newcastle side to keep up the pressure after their third-place finish last season.

Lifelong Magpies fan Robson, who discounted Liverpool's claims despite the capture of Harry Kewell from Leeds, said: "Newcastle are the up-and-coming team for me.

"They have a fantastic manager in Sir Bobby Robson, great young players and great support. They'll be a threat to Man. United and Arsenal.

"But, for me, Man. United are still the favourites.

"You can't completely write off Chelsea, but I think it will take time for them to build things there.

"I don't think they'll win the title, but I think they could go close.''

Meanwhile, Newcastle insist midfielder Gary Speed is still a key man at St. James' Park despite intense competition for places.

Nine players will be vying for a midfield berth next season and 33-year-old Speed, who only has a year left on his contract, has been strongly linked with moves to Middlesbrough, Blackburn and Fulham.

It is claimed Speed is furious that he has been offered a one-year extension to his current deal, which involves a pay cut.

But Newcastle chairman Freddy Shepherd, who insisted contract talks with Speed had yet to take place, is confident the Wales skipper will continue to be an influential force on Tyneside.

"If Blackburn and Middlesbrough are interested in Gary Speed, then it's news to me,'' said Shepherd. "Certainly we have had no bid for him.

"And as far as his contract is concerned, I can categorically say that there have not even been any talks with Gary and his representatives, so talk of him being upset is wide of the mark.

"What will be occupying Gary's thoughts is getting himself fully fit for what looks like being another big season for us.''

Newcastle have an embarrassment of midfield options in Speed, Kieron Dyer, Jermaine Jenas, Lee Bowyer, Nolberto Solano, Laurent Robert, Hugo Viana, Darren Ambrose and Brian Kerr.

And Portuguese starlet Viana, signed from Sporting Lisbon a year ago for £8.5m, anticipates a title push.

"We have only made one signing this summer in Lee Bowyer, but the ambitions here are the same,'' said Viana.

"We have a strong team and with a player like Bowyer, who can help resolve some problems with his many skills, we can now be involved in a title fight.''

Viana, whose opportunities were limited in his first season with the Magpies - partly due to problems with a dislocated shoulder - is hoping to play a bigger part in the new term.

"I expect a better run than last year, when I was troubled with injuries,'' said Viana.