NEWCASTLE chairman Freddy Shepherd last night launched a withering attack on Premiership rivals Manchester United, claiming the former champions were drifting "like a ship without a sail".

Speaking at the annual Soccerex conference in Dubai, Shepherd claimed the Old Trafford club have lost their way in the last two years.

That period has seen Manchester United lose the services of their chairman, Martin Edwards, and their most iconic player, David Beckham.

Newcastle have endured a similarly turbulent spell, with Sir Bobby Robson's recent dismissal compounding successive failures to qualify for the Champions League.

But, after defending the way his own club is run, Shepherd accused Manchester United of losing their soul in the blind pursuit of commercial and footballing success.

"First they lost the captain of the ship in Martin Edwards," said Shepherd, who was accused of putting corporate considerations first himself when he forced bondholders to give up their seats in the late-1990s.

"Then they suffered from losing David Beckham. They lost two characters there.

"Over the last two years they have lost a bit of stardust. They miss Martin Edwards hugely because it's like a ship without a sail."

Shepherd also questioned the motives in the Manchester United boardroom, claiming the club's main investors - Irish duo John Magnier and JP McManus and American billionaire Malcolm Glazer - were only interested in financial gain.

"I met Magnier in February playing golf," said the United chairman. "And he said he was there purely as an investor. He made it clear he was only there as that, nothing else."

"Both of us (Shepherd and fellow major shareholder Douglas Hall) are fans through and through, and we've never sold a share.

"We've spent £300m in the last ten years and we run the club as a business, but at the end of the day we are fans."

Manchester United were not the only focus of Shepherd's ire, as he also accused Chelsea supremo Roman Abramovich of creating renewed chaos in the transfer market. "Abramovich has blown the transfer market wide open," he said. "There is one market for him and one for the rest of us.

"We were getting fees down to a sensible level before he came along. But don't get me wrong, I wish we had a Geordie Abramovich."

The United chief could be about to face a new controversy at home, as Robson's hopes of a return to football are being severely hampered by his reluctance to reach a severance agreement with Newcastle's former boss.

The 71-year-old is understood to be one of three men being considered for the vacant managerial position at League One side Wolves.

But, with Newcastle's board still discussing the terms of his pay-off following his dismissal in August, Robson is currently in limbo as he refuses to write off the money he believes he is owed.

Rather than paying up his contract, which was due to expire at the end of the season, Newcastle are believed to be honouring his wages as if he was still being employed by the club.

That is causing Robson problems as, not only does it make it difficult to enter into another contract, it also means Newcastle would be left with no responsibilities were he to take over at Molineux.

The former Magpies manager is being represented by the League Managers' Association during negotiations over his severance package.

And, while chief executive John Barnwell has confirmed that discussions are still ongoing, he is hopeful that a solution is now close.

"It's in the hands of the lawyers," said Barnwell. "They are negotiating with Newcastle's lawyers and the last information I had is that it's not that far away from being resolved.

"But if it is not resolved, Bobby still reserves the right to ask the Tribunal of Arbitration to intervene."

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