But the club's record goalscorer has NOT ruled himself out, and is understood to be keen on taking on the biggest challenge of his football career.

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Chairman Chris Mort is understood to have informed Shearer – on holiday in Barbados – last Thursday that he would not be considered, despite the groundswell of support for him to succeed sacked boss Sam Allardyce.

Mort made it clear he is looking for an experienced manager, and Harry Redknapp was at the top of his and Mike Ashley's list last week.

But after Redknapp opted to stay at Portsmouth, they are likely to turn to Blackburn Rovers's Mark Hughes.

However, there as yet has been no official approach to the Ewood Park club, something which was today confirmed by chief executive John Williams.

Hughes has told friends he is interested in the challenge, and is waiting on Newcastle's move, having pointedly refused to rule himself out of the running over a weekend of more frenzied speculation.

But United's fans could yet force a rethink from Mort and Ashley.

And with Shearer now prepared to take the job on, it would be a brave move from the pair if they continue to overlook the 37-year-old as they close in on their first managerial appointment.

Shearer's name was chanted by the away fans at Old Trafford on Saturday, and it will almost certainly again be sung at St James's Park on Wednesday night, when Newcastle take on Stoke City in a third round FA Cup replay.

A dream ticket of Shearer working under Kevin Keegan has been talked about, but if Shearer came in, he would want to be the No1.

Ex-boss Sir Bobby Robson said: "I know Geordie fans would like Kevin to come back so Alan could learn from him, but I don't see Shearer as anybody's No2."