Shepherd sold his stock in the Magpies in June, and has since been told he is "not welcome" at St James' Park, by the current board of directors.
Shepherd Shows His True Colours!
So he is switching from black and white to ... whatever.
He is now seeking a route back into football, obviously away from Newcastle.
He is now seeking a route back into football, obviously away from Newcastle.
Freddy Shepherd: "Football's a drug, and a powerful drug. From January I think something could happen.
"I'm a northern guy, so obviously I'm more interested in northern clubs".
Shepherd is reportedly keen on is League One side Leeds, and it was rumoured he was set to thrash out a deal with current owner Ken Bates.
If that falls through, there can only be two other possibilities - Harltlepool or Darlington.
But, be warned, Freddy's geography is SHOCKING! He told us he was about to appoint a "Geordie manager" when he gave Sir Bobby Robson the boot.
Who did we get?
Edinburgh-born Graeme Souness.