“I fully understand Mike Ashley’s decision to sell the club as he feels it’s now in the best interest of the club and the fans. I hope to know more by the end of the week.” Any takeover process could be completed before the players return to pre-season training at the start of July.

But, while there is firm interest from at least two consortia – one of which is based in Oman – there have been no bids.

It is a frustrating time for Shearer who has, with the help of assistant Iain Dowie, identified a number of players in both the Premier League and Championship he wants to bring to Tyneside.

Indeed, United sources have told The Journal key targets have already been sounded out about their willingness to move to Newcastle and deals could be completed within days if Shearer’s appointment is ratified by the money men this week.

That would be a remarkable achievement for a rookie manager, but Shearer’s standing in the game means he has added pulling power, even though Newcastle are competing for players who have also been identified by top-flight clubs.

Nevertheless, there is nothing Shearer can do at this stage.

There was no movement in breaking the deadlock yesterday and the former United skipper is resigned to playing a waiting game having failed to meet either Ashley or managing director Llambias yesterday.

Meanwhile, one of the players being heavily linked with a move to Newcastle is former Magpie reserve team skipper – and team-mate of Shearer’s – Bradley Orr.

The fiery 26-year-old – he spent 14 days in prison following an assault outside a Bristol nightclub in 2006 – has been at Ashton Gate for five seasons following his release by Newcastle in 2004.

Originally a central midfielder, Orr has been successfully converted into a right-back in the south west with Bristol City.