He was given his marching orders on Sunday against Reading in a Premier League 2 clash.
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Spearing was sent off in the 89th minute for what appeared to be a handball on the line.
However, young goalkeeper Fabian Mrozek, who is only 20, spared Spearing's blushes by saving the spot kick.
Spearing is a player-coach within the Reds' academy, given he is now 35.