Sol Campbell has been a Newcastle target for years.
Both Sir Bobby Robson and Graeme Souness tried to sign him, but Glenn Roeder came the closest with a bid that was beaten at the last minute by an offer from Pompey.
The former England international is out of contract this summer and available on a free transfer following three years with the Fratton Park outfit, and rumours on the south coast suggests Shearer has his former team-mate on his list this summer.
Campbell: "There's a few options out there.
"I'm out of contract and I'm going to listen to different offers.
"With Portsmouth they have to organise themselves and there's a lot of things happening there.
"I want to make the right choice. In the next two to three years I want to be in the right situation.
"The chairman, the manager and people like that, I like them to be really close together to move the club on. At the moment with Portsmouth it just seems there're a lot of things in the background.
"It may resolve itself, I don't know, but for me, as a player, I want to be in the right environment. For at least the next two years, the right environment to be successful."