Interested parties who have proved to the satisfaction of investment bankers Seymour Pierce they have the finances to meet owner Mike Ashley's asking price will be given electronic access to the Magpies' books tomorrow.

That will effectively signal the start of a formal period of due diligence, a process which could take some time to complete.

However, managing director Derek Llambias has suggested that would not necessarily preclude Shearer's belated appointment.

Indeed, he has hinted the 38-year-old could be back at the helm within a matter of days, although sources on Tyneside suggest that timescale may be a little ambitious.

But Llambias has confirmed that Ashley will not be responsible for whatever appointment is made.

Instead, it will be up to the competing consortia, if they believe Shearer is the right man for the job, to agree to the former Newcastle captain being handed the job before any takeover is complete so preparations for the new season, which are already some way behind schedule, can begin in earnest.

Llambias told the Journal: "There could be some movement regarding Alan Shearer at the end of this week or early next week.

"The data room will be open on Wednesday, which will allow the groups who have proved they have the money to buy the club to look at the books.

"Nobody has been able to do that yet because the data room hasn't been opened.

"We will not be making any decision on Alan as manager - that is not up to us, that is down to the groups who are buying the club.

"If they want to appoint him, then it's up to them. We will speak to them about it. If they do want Alan, then something could be done in the next few days.

"That's where we are at this stage and everything is ongoing."

It is understood at least four different parties have expressed meaningful interest in the club, although only the Profitable Group from Singapore have confirmed their involvement.

Former chairman Freddy Shepherd is believed to be heavily involved in another consortium, while groups from America, South Africa and Oman are rumoured to have contacted Seymour Pierce chairman, Keith Harris.

If Shearer is the universal choice - he remains the overwhelming favourite with the fans - he could conceivably be put in charge before any deal is finalised.

What is certain is that someone needs to be handed the reins, whether on a temporary or permanent basis, soon if the club is to avoid starting the new season at a disadvantage.

The new Coca-Cola Championship fixtures are out tomorrow with the Magpies yet to announce details of their pre-season campaign.

In addition, the inevitable process of slashing the club's wage bill, currently running at in excess of £74million, is yet to start, although big earners Michael Owen and Mark Viduka will become free agents at the end of this month.

But several more expensively-acquired players will have to go while at the same time a new squad needs to be assembled for the challenge of trying to achieve promotion back to the Barclays Premier League at the first attempt.

Newcastle, who have already been linked with Leeds striker Jermaine Beckford and Rosenborg midfielder Per Ciljan Skjelbred, have reportedly also had encouraging feedback over young Manchester United striker Fraizer Campbell.

The 21-year-old, who spent last season on loan at Tottenham, is also wanted by Hull, where he had earned enjoyed a successful spell on loan during the club's promotion campaign.

However, so much of what Newcastle may be able to do in the transfer market could depend upon who is manager and when he is appointed.