Alan Shearer is set to be handed the fulltime Newcastle United manager's job.

The Times says Shearer has been assured by the outgoing hierarchy at Newcastle United that the two groups leading the bidding for the club are intent on installing him as manager.

Shearer has received a progress report from Derek Llambias, the managing director, the tone of which was markedly upbeat. A takeover is still on course to be announced by the end of this month and the club's record goalscorer remains the sole managerial candidate of note.

Up to four groups - one of which is fronted by Freddy Shepherd, the club's former chairman - have been involved in substantive negotiations with Keith Harris, the executive chairman of Seymour Pierce, but two are understood to have moved ahead of the others in terms of demonstrating their financial strength and are eager to open talks with Shearer.