Date: 6th April 2009 at 7:11am
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Newcastle United owner Mike Ashley has decided to risk it all, by offering temporary manager Alan Shearer a four-year-deal, and a summer spending limit of £50 million, reports The Observer.

The Toon suffered a fateful defeat at the hands of Chelsea on Saturday, and Shearer was quick to point out to the boss that there was little he could do, given the players at his disposal were below-standard.

Ashley and Managing Director Derek Llambias then sat down with a summer plan, and a new contract for the Magpies legend.

Shearer, 38, however was quick to dismiss the offer, and reportedly stated, ‘We’ll see at the end of the season.’

If the interim manager does indeed agree to join the Toon revolution, then Ashley is said to be ready to release as much as £50 million in transfers for the summer alone, with whatever is recouped from player sales also remaining in a separate account for January buys – provided Newcastle United stay in the Barclays Premier League.