Newcastle United managing director Derek Llambias says Alan Shearer could be named fulltime manager this week.

It could still be weeks before a takeover is complete, but Llambias says the club are close to making a significant announcement.

"There could be some movement regarding Alan Shearer at the end of this week or early next week," he told Journal Live.

"The data room will be open on Wednesday, which will allow the groups who have proved they have the money to buy the club to look at the books. Nobody has been able to do that yet because the data room hasn't been opened.

"We will not be making any decision on Alan as manager, that is not up to us, that is down to the groups who are buying the club.

"If they want to appoint him, then it's up to them. We will speak to them about it. If they do want Alan then something could be done in the next few days. That's where we are at this stage and everything is ongoing."