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There have been moments observing Newcastle United when hope and anticipation filled St James' Park.

When the pursuit of a dream - for that is surely what football clubs are here for - was the mission. When progress seemed possible, even probably, and silverware (now 45 years in the waiting) was on the agenda.

For instance, I recall the moment Kevin Keegan signed as a player in the early 1980s to ignite a moribund club. Remember that joyous picture of his debut goal against QPR? Anything seemed achievable.

There was Keegan's return as manager, saving the club from relegation then charging to the peak of Premier League. Those chest-tightening, breathless games when the title was in their grasp, and time seemed to move slower as the final whistles approached.

There were FA Cup final near misses, and under Sir Bobby Robson a leap from midtable to the top four and the Champions' League. Perhaps the highlight, a trip to the San Siro in March 2003, and a thrilling 2-2 draw against Inter, a place in the quarter-finals within their grasp.

Contrast those moments with what Newcastle fans have to look forward to now. The dreaming is over, and it only increases the admiration for the 50,000 who still turn up for home games.

The dream now, for the cost-cutting, bank-balance-watching, profit-bagging, Sports-Direct-advertising-obsessed hierarchy, is to be top of their mini-league. Let the battle for eighth to 17th place commence.

(Image: Serena Taylor)

The cups are an unwanted diversion. Qualify for the Europa League, and those in charge from Mike Ashley to Alan Pardew, moan about the extra burden.

The elite, who Newcastle successfully mixed it with a decade ago, have disappeared over the financial horizon. Newcastle have missed the boat, and any hope of glory days, even unfulfilled as they were, lost.

To be fair this could be the story of many a club in the top flight. Aston Villa, West Ham, Southampton. So many clubs going through the motions, knowing the financial might of the few squeezes the life, and aspiration, out of the rest.

Transfer deadline day was confirmation of Newcastle's unwillingness to try and compete. They need a goalscorer and a central defender. Early season performances suggest they are shaky at the back and lacking a threat.all

Nine summer signings (two loaned back to Nottingham Forest) represented standing still, replacements for those exiting in the last eight months.

Progress, and having a go, would have been signing Alexandre Lacazette, Wilfred Bony or some other powerful goal scoring line leader. Cash remains in the bank.

But instead deadline day saw Hatem Ben Arfa and Mapou Yanga Mbiwa depart on loan. So from needing an extra attacker and a defender, Newcastle got rid of an attacker and defender, albeit both with questionable contributions to make.

(Image: Mark Runnacles)

The simple calculation at the top will be that Newcastle have enough to survive this season in the Premier League. Beyond that, no one running the club really cares.

Failing to land their top striker target means no hope of mixing it in the top seven or eight this season. It probably means Newcastle will be on the fringes of the relegation battle come March before pulling clear to end up upper bottom half of the division. Ninth will be hailed as an achievement.

It certainly means Alan Pardew will remain a divisive figure on the terraces with a team turning in performances less than the sum of their parts. It possibly means that with the season ten games old, Pardew will be facing the sack unless there is an upturn in results.

But if Ashley wants to replace Pardew with David Moyes, whose job he so admired at Everton, do you think he'll join a regime so content with mediocrity?

People wonder why Newcastle fans go misty-eyed about Kevin Keegan and Sir Bobby Robson. Sentimental fools, eh?

Well no. It is because they understood the dream, like those running Newcastle now don't. Even if those two great men never quite got to the final destination.

"This club can never go anywhere under Mike Ashley, I promise you that," said Keegan when he departed as boss for the second time.

We are still waiting for Keegan to be proved wrong.