A source close to Shearer said: "Alan has not shown any interest in the Middlesbrough job, but he is starting to look around and he will keep his options open.
"He wanted the Newcastle job and he has waited a long time, but it hasn’t been offered to him and now he will wish Chris Hughton all the best and move on to other things.
"The news that Chris Hughton is set to be offered the job permanently has just confirmed what he already suspected. He doesn’t think there is any chance of a takeover going through now."