Alan Shearer remains committed to Newcastle United, it has been revealed.

The Times says Shearer's blueprint for the future of Newcastle United is in the hands of the club's bankers after the decision by Mike Ashley to end his "catastrophic" tenure at St James' Park "as soon as I can".

The sportswear retailer has reappointed Keith Harris, the chairman of Seymour Pierce, the City adviser, to push through the sale of Newcastle, with a potential bidder understood to have expressed a firm interest in the relegated club.

Shearer is committed to restoring Newcastle's fortunes and remains optimistic that a positive outcome will emerge in the next few days.

There is a feeling within his camp that Newcastle with Shearer in situ represent a more attractive proposition for investors than the opposite; it is believed that broad agreement with Ashley has been reached over transfer funds, although Shearer may have to compromise on his request for a £2.5 million salary.