Apparently negotiations about a new contract for the captain have yet to begin meaning that he will be out of contract in the summer, but both him and Freddy Shepherd have previously spoken of their desire to ensure that he stays at the club.
But in response to the report Shearer was forced to reiterate his stance.
"I know nothing about this - all I want to do is extend my current Newcastle contract which expires this season," he said.
After the games with Leeds United and Manchester United surely it should just be a question of the club asking Shearer two questions - how long and how much?
In the aftermath of Liverpool’s 0-0 draw with Aston Villa, Reds boss Gerard Houllier also laughed off the story.
Elsewhere Lomana LuaLua is reported to be considering his future with Portsmouth apparently keen to sign him, despite their earlier denial of the story, and Celtic are supposedly monitoring Nobby Solano’s position, despite the fact that he is now cup-tied for the Champions League.