NEWCASTLE are close to clinching the signature of Patrick Kluivert after waving goodbye to veteran midfielder Gary Speed.

Chairman Freddy Shepherd spent most of yesterday in talks with Kluivert's agent Paul Foortse after hammering out a deal with Barcelona that could see the Dutch international arriving on Tyneside before the end of the week.

He will not be linking up with Speed though, after the long-serving midfielder travelled to Bolton to finalise his £750,000 move from St James' Park.

The 34-year-old will sign a two-year contract at the Reebok Stadium later today, paving the way for a renewed approach for Manchester United midfielder Nicky Butt.

The England international is scheduled to fly to the United States later today on his club's pre-season tour, but the Magpies remain confident that he will be a Newcastle player by the time the new Premiership season gets underway.

Kluivert should also be lining up against Middlesbrough on August 14 after his agent provided firm assurances of his desire to move to the North-East.

The 28-year-old will initially join Newcastle on a one-year loan from Barcelona, but his Magpies contract will include a clause that enables them to make the move permanent next summer.

The Spanish giants have agreed to pay a proportion of Kluivert's wages in an attempt to move him on from the Nou Camp, with Newcastle picking up the rest of the tab.

That could amount to as much as £3.5m - a figure that will represent something of a bargain if he can rediscover the form that made him one of Europe's hottest properties just three years ago.

Kluivert has scored more than 100 goals during his six years in Spain and, while he was an unused substitute during Holland's Euro 2004 campaign, his pedigree is beyond question.

The same can be said of Speed, but the 34-year-old has been deemed surplus to requirements at St James' Park and is expected to be unveiled as a Bolton player later today.

The Wales international had expressed his desire to see out the final year of his contract in an attempt to fight for his place in the United first team.

But, instead, he has sought the security of a new deal at the Reebok Stadium.

Speed, who made 284 appearances after moving from Everton in February 1998, played more games than any other Newcastle player last season.

"It's always difficult to let a player like Gary go," admitted Sir Bobby Robson. "He is one of the best of the best as a player.

"He is totally professional and he always gave 100 per cent. He has had a fabulous career here and is one of my favourite players.

"I want to give him the accolade he deserves. He and Alan Shearer are the finest role models, on and off the pitch, which you can get in football.

"Bolton have acquired a very fine player and he will do well for them. I wish him all the luck, happiness and contentment in the world, and wish him all the best for his future."

Fulham and Middlesbrough had also inquired as to Speed's availability earlier this summer, but Trotters boss Sam Allardyce has moved quickly to sign a player who can boast more Premiership appearances than any other.

"This is a major coup for us," beamed the Bolton boss. "I know other clubs were interested in him."

Speed's departure leaves a gaping hole in Newcastle's midfield, but United are confident of filling it with the capture of Butt. The 29-year-old, who spent large chunks of last season on the sidelines, has accepted that his future lies away from Old Trafford