Igor Tudor was only appointed as interim head coach just under a month ago following the sacking of Thomas Frank but has since failed to turn the side around after losing his first 4 games in charge.
Tottenham have also lost six games in a row for the first time in their history and are winless in 2026 as they near relegation to the Championship.
Spurs sit 16th in the Premier League, one point above West Ham and Forest, with their next match a trip to Anfield on Sunday to face Liverpool where Shearer spoke to Betfair about how it could be the final straw.
“Well, it could be two of the biggest months in the Spurs’ history. My guess is if they get beaten at Anfield at the weekend, that might be an excuse for them to get rid of him. I don't know, I'm guessing.
“But looking at Spurs and looking at what's going on, you can't realistically see them going to Anfield and getting anything. Then they've got Forest, and then there's an international break.
“So yeah, if they get beaten this weekend, my guess is they might be looking for a new manager. In fact, it wouldn't surprise me if they're already speaking to one.”
“It just looks a complete and utter mess at Spurs at the minute. And it seems to be getting worse because there does seem to be a fractured dressing room, and when that happens, you're in big trouble.”
Four games, four defeats and with 14 goals conceded Spurs look to be heading down a dark spiral towards the second division. Whether that will be with Tudor is yet to be seen but a loss against Liverpool could see the Croatian let go in favour of yet another head coach.