By Scott Faulkner

BBC Sport

Alan Smith is goalless for Newcastle United in 68 league starts for the club

Alan Smith is on the verge of signing on loan for League One Milton Keynes Dons, with an announcement expected in the next 24 hours, the BBC understands.

Injuries have forced the versatile 31-year-old down the pecking order at St James' Park and his five-year contract expires this summer.

Talks have been going on since Friday as the clubs strive to reach agreement before Tuesday's transfer deadline.

Smith has played 77 times since his £6m move from Manchester United in 2007.

He is one of the club's highest earners, collecting a reported £60,000 a week on Tyneside.

Reports suggest MK Dons will pay around £2,500 towards the former England international's wages, with Newcastle continuing to pay the rest.

Both clubs are officially not commenting on the proposed transfer.

Smith's last start for Newcastle came in January 2011, when he limped off after 36 minutes in his side's 1-1 draw against Sunderland. And he has had just six minutes of first team football this season in two late appearances as a substitute, the most recent of them in last month's 4-2 win against Norwich.

The end of the transfer window also coincides with MK Dons' league match at home to Sheffield Wednesday and it is understood that, if the deal went through by midday on Monday, Smith is fit to play and could figure.

In an interview in January with the Sun, Smith admitted that he has been more like a head cheerleader than a player this season, but is fit again and still has ambitions of playing regularly.

I can talk to other clubs with my contract being up and, if I have to go, wages won't come into consideration.

Alan Smith

But his drop down into the third tier of English football will be a surprise, given the player's own comments earlier in the year.

"I'm not happy just to stay and pick up my wages," he said. "It's not what I'm about. I put it in every week in training.

"I can talk to other clubs with my contract being up and, if I have to go, wages won't come into consideration.

"I was out for 18 months because of injury at United and had that ankle break at Sunderland playing for Newcastle but I'm absolutely fine now.

"I can still do a good job in the Premier League or the Championship — I just need that chance."

Smith made his name in attack for Leeds United, the club he has supported since a boy, before a £7m move to Old Trafford in 2004.

Sir Alex Ferguson initially used Smith, who has 19 England caps, to lead the line at Old Trafford but converted him into a ball-winning midfielder, where he made 43 appearances and netted seven times.

But his career suffered a major setback when he broke his left leg and dislocated his ankle for United against Liverpool in an FA Cup defeat in 2006.

Since his move to Newcastle a combination of injuries, managerial changes and a lack of first-team opportunities has hampered Smith's chances - and he has made just 68 league starts.