Newcastle have been told they will be wasting their time making any more bids for Harry Redknapp.The 60-year-old manager has already rejected one approach from the Pompey's Premier League rivals. Newcastle - thrashed 6-0 by Manchester United yesterday - are looking for a successor to Sam Allardyce and Redknapp was their first choice. However he decided to stay at Fratton Park, where chief executive Peter Storrie says he has 'a job for life'. Portsmouth, who face Sunderland today, are making rapid progress under the veteran boss. Speaking on Radio Five Live's Sportsweek programme, Storrie said: 'Harry has made it perfectly clear he has made his decision - he wants to stay at Portsmouth. 'That is the end of the matter. He has made it plain it is not about money so Newcastle can continue to offer him what they like. 'We only allowed Harry to have a conversation with them as it brought the matter to a head. 'It is a disruptive time for anyone to have done this in the middle of the transfer window. 'I can understand why Newcastle wanted him as he is one of the best managers in the Premier League. 'But Harry knows he has a job here for as long as he wants it. He can see there is the potential to go forward.' Former Newcastle owner and chairman Sir John Hall, meanwhile, rates former Liverpool boss Gerard Houllier ahead of Redknapp. Hall said: 'I am pleased that Harry has dropped out. 'None of the fans I have spoken to were behind him. They did not feel he was any better than Sam. 'I have a high regard for Gerard Houllier and he could do a job at Newcastle. He did well at Lyon.' But Hall poured cold water on a potential partnership between two Geordie icons Kevin Keegan and Alan Shearer. 'Alan is the most dedicated professional I have ever met,' said the Newcastle vice-president. 'He will probably be a tremendous manager but I do not think he would be prepared to come in yet. 'Kevin has maybe had his time in football and is now doing other things.' Hall is confident owner Mike Ashley and chairman Chris Mort can turn things around. Former Bolton boss Allardyce was already in place when they arrived and Hall said: 'I have a certain sympathy for Mike Ashley and Chris Mort. 'Ashley and his team are dedicated to the club. He has just come into the game and it takes time to get into the passion of the club. 'However I cannot understand the timing of Allardyce's departure. I would have let him stay until the end of the season. 'The players let Allardyce down. The displays has been abysmal - probably some of the worst I have seen in 20 years.'