Shepherd 'I Gave It My Best Shot'
"It has been a great privilege and honour to have been chairman and I would not have missed it for the world.
"We have had some really exciting times and I like to think we have achieved a lot since 1992 when we took over the club.
"But it was the right time for me to stand down. And in any case, once the club was delisted, my position as chairman of the PLC became redundant.
"I gave it my best shot and I could not really have done any more.
"My biggest regret is that I was unable to give our supporters a trophy. Don't forget that I am a supporter as well, and I was as desperate as the rest of the fans to bring some silverware to this club.
"Unfortunately, we just could not do it, but I still feel that we have achieved quite a lot since we took over.
"We have a fantastic stadium at St James' Park and our training ground and academy are as good as any in Europe.
"Now I feel that everything is in place for Sam Allardyce, Mike Ashley and the new chairman"
But Sam Allardyce hinted his "hands on approach" was the reason for so much unrest with Newcastle managers in the past. He wanted to get involved, a little TOO much for the likes of Kenny Dalglish, Sir Bobby Robson and Graeme Souness.
Allardyce: "While Freddy was hands-on, as everybody knows, and here every single day of the week, it is not quite that under the new regime, so that's probably the only difference from my point of view.
"The communication levels are built now and we are getting used to working together."