Shearer has been waiting all summer for Moat to complete a deal to buy Newcastle from Mike Ashley, but it seems we have all been conned by a man who obviously made promises (he could never keep) just for the publicity.
It seemed Derek Llambias was never convinced by his offer right from the start, and played it down when others thought we had a saviour.
Mike Ashley gave Moat the ultimatum "take it or leave it" ... and we haven't seen sight nor sound of the Newcastle businessman since!
Shearer says he is looking at "other possible opportunities" and is looking for another management position while continuing to work as a pundit for the BBC.