NEWCASTLE United boss Bobby Robson yesterday admitted he is "on a knife-edge'' as football awaits the European Commission's ruling on the future of the transfer system.

Like most managers, Robson is wary of splashing out until it is confirmed that transfer fees are to be declared illegal.

Robson has lodged a £1m bid for Colchester's sought-after teenage striker Lomano Lua Lua.

But even if the Magpies' manager is ultimately successful with the move - he faces competition from West Ham and Tottenham - it is unlikely any money will change hands before the Eurocrats deliver their momentous verdict, which could come within two months.

If the EC agree to FIFA proposals, Colchester would only be entitled to a development fee for 19-year-old Lua Lua.

But Colchester boss Steve Whitton insists he doesn't want to part with the Zaire-born prospect.

"As far as I'm concerned, Lomano is still very much in my plans,'' said Whitton. "We won't let him go unless the move is right.

"It's better for him to remain at Colchester for the time being. It's better for his career if he continues to play first-team football for us.''

However, Robson is more anxious to strengthen his defence after losing centre-backs Nikos Dabizas and Marcelino to long-term injuries.

"I'm happy with the job Alain Goma and Aaron Hughes have done, but that won't stop me working on bringing someone in,'' stressed Robson.

"The problem is the European Commission decision on transfers. There are no buyers or sellers at the moment - nobody wants to spend.

"If you spend £4m, overnight that money could disappear - it could be written off the balance sheet.

"I'm just hanging fire until we get a ruling. As soon as we know where we stand, we'll do something about adding to the squad.

"For now I'm on a knife-edge. We mustn't do something we would regret.''

Meanwhile, £7m striker Carl Cort, as expected, is set to return from a three-week hamstring injury lay-off to face Southampton at The Dell on Saturday.

Midfielder Robert Lee, who "tweaked'' a groin in training last week and missed the goalless home draw with Chelsea, should also be back in contention.

lArgentinian midfielder Cristian Bassedas is due to undergo a scan today to assess his recovery from the broken foot which has delayed his senior debut for Newcastle since his £3.5m summer arrival from Velez Sarsfield.

l Inter Milan defender Laurent Blanc admitted he turned down a fresh advance from Manchester United days before France's friendly against England on September 2.

United boss Sir Alex Ferguson admitted in July that he had been unsuccessful with three bids for the veteran centre-back and the latest rejection could spell the end of United's interest.