Reports yesterday suggested that Rodgers was the front-runner to take over at St. James' Park with former Derby manager McClaren's time running out.
It was thought that McClaren's future may be decided based upon the results of the North East club's next two Premier League matches, a trip to the Britannia Stadium to face Stoke City before a crucial home fixture against fellow strugglers Bournemouth.
However, the latest take on the situation is that the Magpies board are prepared to give the former Middlesbrough boss more time to turn the club's fortunes around and move away from relegation danger.
The report goes on to suggest that a primary reason for the board's patience is the club's relatively consistent home form in the Premier League.
After suffering defeat in two of their opening three matches at their own stadium, Newcastle have lost just two of their last 10 in front of their own fans in the league, going unbeaten in their most recent three.
It is on the road where McClaren must improve the form, however, as the club have lost six away games in a row in all competitions and have only won twice at another ground all season.
The club are currently in the relegation zone on goal-difference.