Newcastle United legend Alan Shearer isn't getting carried away with talk of the club's takeover.

News emerged last Tuesday that PCP Capital Partners' takeover bid for the club has reached the Premier League's Owners and Directors' Test stage.

"Like so many Newcastle fans, I refuse to get excited until the sale of the club actually goes through," Shearer told The Sun.

"I'm reluctant to get my hopes up — we've been here before, so what is the point?

"There are still questions to be answered. We are yet to hear about the finance of the deal and still haven't heard anything from Mike Ashley or the prospective buyers.

"With (Mike) Ashley, once it gets close he may well try to move the goalposts. So until the deal is done, I remain cautious."