Alan Shearer: Staying in Premier League is only way to rectify mistakes at Newcastle

Alan Shearer has revealed that Newcastle owner Mike Ashley and his board have admitted to making "big mistakes" as the club plunged into the relegation mire.

The new Toon boss has held a series of candid meetings with Ashley and managing director Derek Llambias before and after accepting the job for eight matches.

And Shearer insists the key to the Magpies' future is that there is no repeat of the poor decision-making that has sparked the crisis.

The United legend didn't specifically mention the departure of Kevin Keegan, the decision to put the club up for sale or Ashley's absence from matches. But, privately, he has expressed his concern about the running of his home-town club.

And he has dropped a heavy hint that Newcastle's transfer policy - previously overseen by Dennis Wise - has left him with an "unbalanced" squad.

Shearer warned: "It's important the same mistakes aren't made again.

"We all make mistakes in life. Do you learn from them, or do you make the same ones again? If you do, there's something not right.

"It's how you get over them and get back to not making them which is important.

"I've made my feelings known to the necessary people. They are well aware of their mistakes and other people's mistakes.

"I think it's right that we've sat down and they've asked my honest opinion. I've given them honest answers.

"They know what's been done wrong. Staying in this league will give them the chance to rectify that.

"The squad is unbalanced. You can't go into a season with only one person in one position - at some time, that player is going to get injured.

"Jose Enrique's injured, so we went into Saturday's game at Stoke without a leftback.

But I knew the situation when I took the job so I'm not whingeing.

"We had meetings before I took it and we've had meetings over the past week." And Shearer has been encouraged by the responses of Ashley (right) and Co.

He added: "They have admitted that they made mistakes. But they want to try to put that right.

"Even in the initial discussions, I asked a load of questions and the answers I got back were the answers I was looking for.

"There have been a million discussions since last Thursday. They have been open and honest, as you would expect.

There's no point beating around the bush, you have to tell it as it is and I've done that. They will continue to get my opinions.

Shearer angrily denies that his acceptance of the job on a short deal represented a winwin situation for him.

He insisted: "Nothing to lose? Newcastle going down to the Championship - that's what I've got to lose.

"I understand everyone's opinion, but I have a hell of a lot to lose here."k