Newcastle chairman Freddy Shepherd has insisted the clock is not ticking on manager Graeme Souness despite admitting he would love Alan Shearer to succeed him.

Shepherd revealed his hope that the former England captain would one day take over the reins at St James' Park earlier this week, but he is adamant that no timetable has been set for any handover.

"Graeme has said he would like to see Alan replace him as manager and I said I did not see a problem with that," Shepherd told the Press Association.

"Who knows what is going to happen, but I hope one day Alan is manager of Newcastle United.

"Graeme has got a contract here and he has got another two years, so I do not know what is going to happen and neither does he."

The new one-year contract Shearer signed in April handed him a first step on to the coaching ladder, although how involved he gets on that side of things has been left up to him.

It is widely thought that he will now be groomed for the big job, although Shepherd is not putting any pressure on the 34-year-old and was giving nothing away about the discussions they have had.

"It is up to Alan, the grooming side of it, but I hope he does stay in some non-playing capacity at the end of the season," he said.

"I would never disclose any discussion I have had with Alan Shearer because what I say to him and what he says to me will always remain private."

Souness too is relaxed about the situation, saying only: "He is a player next year and the offer that was on when I first arrived is the same offer at the start of next year. He can be involved as much in this side as he wants.

The talismanic striker is expected to return to the starting line-up for Sunday's final Premiership clash with champions Chelsea at St James' Park.

It will mark the end of another hugely disappointing season for the Magpies. They have again finished without silverware and can only reach Europe through the Intertoto Cup.

Three seasons ago, they finished third ahead of Sunday's visitors, but this time around they trail the Londoners by a staggering 51 points and need a win to avoid their lowest-ever Premiership total.

"Eventful, that's a very polite way of putting it, eventful," said the Toon boss when asked to assess his first campaign in charge.

"There were things that I have not experienced before, things that I do not want to experience again.

"I think the fact that our back has been against the wall in the last couple of months, I have found out a great deal about what we have here and what we do not have here."

He has insisted from day one that he will need time to sort out the club's problems, and Shepherd - who has parted company with his last three managers in August - has promised him that.

That process is now under way as Souness and Shepherd attempt to offload unwanted players and recruit others. However, the prospect of rebel Craig Bellamy returning for pre-season training if no-one buys him is not one which fazes the manager.

"He is contracted to us, so that would be the case," he said. "He cannot do his pre-season anywhere else."

And asked if that would be difficult, he replied: "Not for me it wouldn't."

Major changes are likely to occur at St. James' Park over the summer as Souness, Shepherd and possibly Shearer look to add some backbone to a struggling Magpies side.