Bollox? Yep ... we believe so, even though Shepherd has made it know he is looking for a return to football as chairman of a "big club".
That "big club" seemed to be Leeds United, but Ken Bates has made it clear he can do without Fat Fred's assistance.
That report we picked up today (believe it if you want):
Sam Allardyce could be set for a shock return to Bolton as reports claim he is planning a takeover bid with Freddie Shepherd. Allardyce left Bolton just before the end of last season following a reported bust up with chairman Phil Gartside and since then the Trotters have slipped down the Premiership and are odds on to be relegated.
'Big Sam' was unhappy with the lack of money made available to him in the January transfer window before he left and felt he was unable to take the club any further with limited funds. Reports now claim that Allardyce, who was sacked by Newcastle after just five months earlier in the season, is lining up a sensational return to the Reebok with the financial backing of former Magpies chairman Shepherd. Shepherd was the man who appointted Allardyce before he was replaced by current Newcastle owner Mike Ashley, and according to the grapevine the duo want to make a sensational return to football by ousting Gartside.