Keegan has warned that top-flight football is in danger of being boring, with the same teams holding something of a monopoly on the top four places – and with it Champions League football.

The Magpies chief has come under fire from certain quarters, who believe he is throwing in the towel far too easily.

Aston Villa manager O'Neill says he can see Keegan's point, but insists that while he knows how tough it is to challenge the big four, that is what he's aiming for.

He said: "If Keegan thinks it is going to be difficult at Newcastle, the third highest club in terms of crowds, then I suppose it might be a realistic viewpoint.

"My own view is I don't think it is an impossibility. That is my viewpoint, but it does take a lot of good players at the club to wrestle the initiative away from those big four.

"Maybe Kevin Keegan in the last day or so has given a realistic viewpoint of the league at the moment – but it is not something you stop aspiring to."

O'Neill is well aware that qualifying for the Champions League could prove a key factor in holding on to Gareth Barry.

Barry has been the subject of a bid from Liverpool, and while O'Neill is determined to pull out all the stops to keep the midfielder at Villa Park, he is aware of how big an ask that will be.

He added: "We are going to do what it takes to keep Gareth at the club. The viewpoint is we are attempting to get up there with those teams in the top four."

O'Neill and Barry are due to have further talks after Sunday's final Barclays Premier League clash with West Ham about the future of the former Brighton trainee.

A players-plus-cash offer of around £10m for Barry was made to Villa by the Reds last week, but not taken seriously by O'Neill.

"Liverpool talked about a £10m bid, which was some cash and some unnamed players," O'Neill said.

"That is very presumptuous of them, that the players they might be talking about are the ones you would want –that is why I dismissed the whole thing.

"The whole story seems to have grown arms and legs and seems to be saying 'whatever Liverpool are asking for, they will get', but I don't see that as being the case.

"Is Barry undervalued at £10m? Absolutely, without question. This lad is playing for England.

"That is not to say we want to give a certain valuation and then, if Liverpool come up with it, we will do business. That is not what we want to do at all.

"I've spoken to Gareth, but we will have further discussions when the season is over. He felt himself he got affected by all the speculation and that it affected his game a bit.

"That is something for Sunday's game that we wouldn't want to happen. We will speak again next week."