The 38-year-old was not at the Magpies' training ground today as club officials attempted to thrash out the details of a deal which would keep him at St James' Park.

He outlined his vision for the future at a meeting with owner Mike Ashley and managing director Derek Llambias on Tuesday, and talks continued yesterday.

Despite a willingness on both sides for Shearer to take charge on a permanent basis, agreement is yet to be reached as Tyneside awaits news which would go some of the way to drawing a line under the disappointment of relegation from the Barclays Premier League.

Shearer is acutely aware that the bulk of the club's Coca-Cola Championship counterparts started planning for the new campaign weeks ago and that they are already at a disadvantage in that respect.

If he does get the job, he is certain to make massive changes to a playing squad which so drastically under-performed last season.

Bassong, 22, is one of the handful of players to have impressed during a depressing season, and while Newcastle would dearly like to keep him, they know that could prove difficult with Arsenal, Manchester City, Aston Villa and Tottenham all thought be monitoring his progress.

The left-sided central defender arrived from Metz last summer and was expected to play only a peripheral role during his first season in England.

However, having initially struggled to come to terms in the role of emergency left-back, he was hugely impressive once he had been moved into the middle.

It would be little surprise if potential suitors attempted to take advantage of the Magpies' plight by trying to prise him away, but it is understood Shearer would place a £15million price on him, which would at least increase his spending power should he fail to persuade Bassong to stay.

The club is expected to open talks with the player, who currently earns just £5,000 a week, over a much-improved deal, while they will also speak to Senegal international Habib Beye, who has insisted he wants to remain on Tyneside.

But few hard and fast decisions can be taken until the managerial situation is resolved, and both parties will hope that happens sooner rather than later.