Sheringham has told Rooney to stay at United for the good of his career.
"I'd like to think Rooney will stay and carry on playing for United," he told the Manchester Evening News.
"When you finish playing for United it's very hard to go anywhere better. You're playing for one of the biggest clubs in the world and there aren't many places you can go if you want your career to keep going up.
"I know he's been linked to Paris Saint-Germain and I suppose he might get more money there, but how much money do you need?
"Football isn't just about money.
"I think Rooney should work things out at Old Trafford and stay with the club - that's what would be best for both him and for United."