In the wake of Manchester United chief executive Peter Kenyon saying that he thought that the game could only support 40 professional clubs, Shearer told a press conference about his fears.
"I said a few weeks ago that in the future I would imagine you would see a lot more clubs part-time rather than full-time," he said.
"I am not actually surprised that he (Peter Kenyon) has said that, simply because of finances and because of what has gone on.
"It is very sad, without a doubt, but unfortunately that might have to be reality."