The move to pluck Souness from Ewood Park was a surprise to many supporters and the former Liverpool-man was tasked with dragging Newcastle from the relegation zone after a poor start to the season.
In his first campaign, Souness steered Newcastle to a UEFA Cup Quarter-Final and an FA Cup semi-final.
However, in his second, and final season, United struggled with injuries as some players also complained about a low dressing-room morale.
Souness left Newcastle lying in 15th position, one lower than the 14th they finished the season before.
His final game in charge was a 3-0 humbling at Manchester City - former Magpie-favourite Andy Cole grabbed the second-goal.
17 years on from his appointment, we look at who played for Newcastle United on that cold evening in Manchester and see where they are now.
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. MANCHESTER, UNITED KINGDOM - FEBRUARY 01: Graeme Souness of Newcastle United looks dejected after the Barclays Premiership match between Manchester City and Newcastle United at the City Of Manchester Stadium on February 1, 2006, in Manchester, England. (Photo by Clive Mason/Getty Images)
Graeme Souness during his last game in charge of Newcastle United against Manchester City (Photo by Clive Mason/Getty Images) Photo: Clive Mason
. Shay Given
Newcastle’s goalkeeper that day was unsurprisingly Shay Given. Given played 463 games for United in all competitions before also making appearances for Manchester City, Aston Villa and Stoke City. He is now Assistant Manager at Derby County with Wayne Rooney. (Photo by Clive Mason/Getty Images) Photo: Clive Mason
9. Scott Parker
Parker had a successful playing career after leaving Newcastle, starring for West Ham, Tottenham and Fulham. Following his retirement in 2017, Parker stayed on at Fulham and became manager during their unsuccessful season in 2018/19. He left Fulham in the summer and joined fellow Championship side Bournemouth, replacing former-Newcastle United defender Jonathan Woodgate in the process. (Photo by Matthew Lewis/Getty Images) Photo: Matthew Lewis
10. Michael Chopra
Chopra played for Cardiff City, Sunderland, Blackpool and Alloa, whilst also spending time in India. Chopra has most recently tried to organise a takeover of Newcastle United with the Bellagraph Nova Group, however, his attempts were quickly knocked-back. (Photo by Stu Forster/Getty Images) Photo: Stu Forster
11. Alan Shearer
Newcastle United’s all-time record goalscorer retired at the end of the 2005/06 season. After eight games in charge of Newcastle that ended in relegation, Shearer now works as a pundit for the BBC and as a columnist for The Athletic. (Photo by Stu Forster/Getty Images) Photo: Stu Forster