With new owners also presumably promising significant financial backing, United are sure to be linked with an array of players in anticipation of a major spending spree. Although Shearer has

effectively been stuck in limbo since the end of the season, he has not been idly wasting his time.

The Journal understands he has lined up a number of potential transfer deals in the belief his position as manager would eventually be resolved this summer.

However, given the new owners will have to stabilise the club financially following relegation, of more pressing interest for many agents will be the need to offload some of the over-paid and under-performing stars who took the club down last season.

Shearer is likely to take a savage approach to player retention, with only a handful assured of their place in the squad next season as he looks to completely overhaul the playing resources at St James’s Park.

Fabricio Coloccini, Jonás Gutiérrez

, Geremi, Joey Barton and Alan Smith can all expect to be moved on, while Sebastien Bassong is attracting plenty of interest from top-flight clubs after he admitted he wants to leave Newcastle rather than step down to the Championship.

Australian front man Mark Viduka, Brazilian central defender Cláudio Caçapa and Michael Owen’s contracts will expire at the end of the month, automatically saving an estimated £230,000-a-week – or roughly £2.76m a year – on wages.