The Sun newspaper claims nine clubs are ready to battle it out for the signature of the defender.
But Shepherd has pulled out of transfer talks in the past when both Sir Bobby Robson and Graeme Souness had him down as the man to sort out the Toon defence. And when Birmingham beat us to the transfer when he last moved on, we have to ask questions.
The ex-Arsenal defender is out of contract in 18 months and has rejected several offers of a contract extension, and Glenn Roeder wants him.
But, Liverpool, Aston VIlla, West Ham, Spurs, Fulham, Blackburn, Sheffield United and Wigan are also in the frame.
Birmingham will look for around £5 million for Upson who has seven England caps to his name.