Press reports had suggested that Sir Bobby was keen to add some experience to the squad in the shape of the Boro defender and World Cup winning forward, but Shepherd insists that the buy young policy will continue.
"The whole structure of this club is geared to bringing in quality young players," he told The Journal.
"I heard Bobby talking about recruiting older ones for the short term and, while we'd never close that avenue, we're building for the long term.
"Ideally we want quality youngsters who are ready now but who are also going to get even better. The pattern won't change."