Taylor, who has turned down a new deal at St James' Park, has been left out of Newcastle's last two games fuelling rumours of a possible move away from the club.
Allardyce Wants To Put Record Straight!
Allardyce: "The remark was misinterpreted and singled out for one individual player. I don't deny I used the word, but it was about the defending in general, not one individual.
"I said it wasn't just Steven Taylor, it was the whole of the back four.
"Steven will be disappointed that he hasn't been in the team the last couple of games. I expect everyone who isn't in the team to be disappointed, but he is working hard in training and waiting for his chance.
"He is a great lad, a nice young age and he has a massive future. That future should be at Newcastle United."