But he ruled himself out of the running for the Boro job this week, with some suggesting it was because of the close rivalry with his home town club.
Alan Shearer (talking to the Sunday Mirror): "I would still like to be the manager of Newcastle again one day. If the situation came around and everything was right and in place then without a doubt I would love to give it another go. But that's not up to me.
"It's not just a job at Newcastle, though, because if the right post came along somewhere else I would definitely look at it too.
"I would love to go back (to Newcastle) but let's make this clear: I'm not connected to any bids. And nobody has said to me, 'If I get in and buy the football club I want you to be the manager'."