Shearer To Walk Away?

"Ashley is desperately trying to cut his losses and run. And that means selling, with the current price at £80million, which could trigger a possible sale to former chairman Freddy Shepherd, who will this week make his move to return to St James' Park less than two years after being ousted by Ashley.

"So far Ashley has not received any firm offers for Newcastle, who have a colossal annual wage bill of over £70m.

"Shearer, who was in charge for the final eight games of the season, was set to sign a four-year contract last week, but just as the former Newcastle striker was poised to sign, Ashley instructed broker Keith Harris to put the club on the market again.

"Shearer had told players he would start pre-season training on July 1 but he now wants the ownership issue to be settled before he commits to any contract."