Smiles are all around us in the Football Transfer Tavern, mostly on the faces of Newcastle United fans.

Not only have the Magpies notched up yet another Premier League win but they have also just been told some rather good news concerning Yohan Cabaye courtesy of Metro.

It was only yesterday that we were discussing the fact that the midfielder could be subject to a £22 million bid from Arsenal.

However, according to the publication, there is now a gentleman’s agreement between the player and club meaning he will not be going anywhere until the summer at the earliest.

The creative force that Cabaye provides has attracted both Manchester United and Arsenal, and as our landlord points out, it is little wonder.

Newcastle are flying high in the Premier League table and the Frenchman has been a huge part of their recent successes.

Magpies manager Alan Pardew claimed that the player could ‘produce any kind of magic he wanted,’ and on recent displays that does not seem to be much of an exaggeration.

Over a pint, one of our punters points out that considering Newcastle were asking such a high price for the player, it may not be such a bad thing that both David Moyes and Arsene Wenger will miss out.

Both need to buy other players with Wenger needing to net a forward and £22 million could go a long way to helping find such reinforcements.