SIR ALEX Ferguson paid a massive compliment to Bobby Robson's Newcastle by declaring himself happy with a point after seeing his side lose the lead late in a pulsating game at St. James' Park.

The demanding Manchester United manager is rarely content with anything less than all three points and was entitled to feel that his charges had thrown away a great chance to stretch their title-race lead over nearest rivals Arsenal.

Ferguson's champions were ahead with only eight minutes to go, thanks to a controversial David Beckham penalty, when wily Magpies' boss Robson saw an inspired triple switch produce an almost instant dividend.

Robson had brought on substitutes Stephen Glass, Daniel Cordone and Lomana Lualua only seven minutes earlier.

And the three of a kind combined to salvage a deserved point for the Geordies.

The ever-alert Kieron Dyer spotted Cordone on the right and when the Argentinian pulled the ball across, raw talent Lualua fortuitously sliced it to the unmarked Glass who swept home his second goal of the season at the far post.

It was the slice of luck Newcastle needed and one they had earned after matching Ferguson's men for much of an encounter which kept the Tyneside audience enthralled.

Ferguson said: "It's a point gained and an excellent point for us - I don't think many teams will win here this season.

"Newcastle showed incredible energy and desire, hunted every ball and fought for everything. I don't think we deserved anything more than we got.''

It's doubtful Ferguson would have been so magnanimous had Arsenal not squandered a two-goal lead at home to Sunderland and been similarly forced to settle for a point.

Ferguson reckons that, if his side are still eight points clear of the Gunners after today's Premiership programme, "the shape of the league will take place''.

Robson, meanwhile, can only look on with envy at the rich array of talent at Ferguson's disposal, which will be further enhanced when former Newcastle goal hero Andy Cole, Teddy Sheringham, Quinton Fortune, Jaap Stam and Ronny Johnsen return to the fray.

Newcastle chairman Freddy Shepherd's refusal to make funds available until the future of the transfer market is resolved, means a frustrated Robson must make the most of what he has at a time when he is without, among others, talismanic skipper Alan Shearer.

Yet, while Robson is low on numbers, he at least boasts a squad high in spirit.

The long-term loss of Shearer, he believes, has galvanised the rest of the squad and brought about a four-point return from two of the toughest fixtures of the season.

Given the paucity of resources, Robson rated the performance in the Boxing Day home win against Leeds the best since he took charge almost 16 months ago.

"In the last two games the players have given everything and we've coped without Alan better than I thought we would,'' admitted Robson.

"I think the lads realise we're going to miss him.

"They've taken that on board mentally, they're giving that little bit extra, and they're saying: 'We'll get through this without Alan.'

"Without going into the transfer market, we're working with what we've got and, happily for him up there (pointing to the chairman in the boardroom) it's paying off.''

With the influential Robert Lee also on the injured list, Gary Speed has taken on greater responsibility in midfield.

The Welsh international showed his commitment on Saturday when he was flattened in the visitors' penalty area and suffered a badly gashed mouth.

Robson enthused: "Speed's been absolutely awesome in the last two matches with his work ethic and bravery.

"He split his mouth when he went up in the box, got amongst bodies and was hit and sent tumbling.''

Speed's Wales teammate Ryan Giggs didn't need such a buffeting to go down in the 24th minute.

Referee Mike Riley hesitated before pointing to the spot after belatedly adjudging that right-back Andy Griffin had clipped Giggs.

The silver-booted Beckham stepped up to blast home his eighth goal this season with a penalty which Robson labelled "iffy'' and "harsh''.

He said: "I'm sure Alex is happy with the point. I think when we scored he would have thought they might lose this one. But I still take Man. United for the title.''

In truth, the Red Devils would have almost certainly been out of sight in more than ways than one had Ole Gunnar Solskjaer continued his recent scoring spree in the 64th minute when he had two efforts blocked in quick succession by keeper Steve Harper and Griffin