Shearer, 38, insists the club's supporters are entitled to be angry following Keegan's resignation as the Magpies' manager on Thursday.

The former England boss left in protest at his lack of involvement in the buying and selling of players.

Newcastle owner Mike Ashley had given former Leeds manager Dennis Wise - appointed executive director (football) - and Tony Jimenez, the club's vice president, control of the club's transfer policy.

Recruiting Shearer as manager would go some way to appeasing the Toon Army, who have protested outside St James' Park since rumours started circulating that Keegan had left the club earlier in the week.

But the former England striker, who scored 206 goals in 404 appearances during his 10-year spell on Tyneside, has said that he would not be able to work under the current structure at the club.

"I would like to be a manager at some stage in my career, but that means controlling the players that go in and the players that go out," he told BBC's Football Focus.

"I don't think I would be comfortable working within a structure with a director of football who was picking and choosing the players for me."

Everton manager David Moyes and former Juventus coach Didier Deschamps have been installed as the bookmakers' favourites for the job, but Shearer said he was unsure about who will take the job.

"I don't think there will be a shortage of people who want the job, but your guess is as good as mine," he said.

"I know the fans are very unhappy at the moment. They have voiced their opinions and they are more than entitled to do that because without the fans there is no Newcastle United.

"They are angry, hurt, and disappointed and everyone feels for them, me included because we all want the same thing - success at Newcastle United because we are all supporters.

"It's going to be a big task for them because the fans are very angry. There are going to be a million names thrown around and they are going to have to make a decision quickly, before the next game."