Alan Shearer has denied claims he will return to Newcastle in a management capacity alongside Kevin Keegan.
Temporary boss Joe Kinnear suggested Shearer was set for a future role at the club, but the Venables linked with Magpies role ...
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"There is no truth in that whatsoever. I don't know where that's come from at all," Shearer told Match of the Day.
He also expressed shock at Kinnear's appointment, adding the ex-Forest boss looked "embarrassed" to be in the job.
"I was as surprised as anyone was that Joe was appointed," said the 38-year-old former England captain.
"He looks embarrassed a little bit himself, but it's a great opportunity for him. They can't get any worse, it's a no-lose situation."
Shearer, 38, has constantly been linked with a return to Newcastle, where he scored 148 goals in 303 appearances to earn legendary status at St James' Park.
But so far he has played down talk of venturing into management with his former club.
Meanwhile, Terry Venables has told the BBC he turned down Newcastle because taking temporary charge was "not right" for him.
"I got the gist of the position, they laid it out quite clearly, and I don't think it was right for me," he said.
"If you do five or six weeks, it goes quite well, and then you leave, you'd think what was the point?"
Former England coach Venables, 65, admitted it was a "shock" to be offered the job, but said the right candidate had to be prepared to scrap at the bottom of the Premier League.
"When you're involved you have to be for the right reasons, you have to feel it as well," he said. "If you haven't got that, then you haven't got the inner strength to do it."
Venables added that owner Mike Ashley believed a buyer could be found for the club within five or six weeks.
"They said 'could be', and that's no good for me," said the former Barcelona, Tottenham and Middlesbrough manager.
Venables also told Newcastle players to suppress any doubts about the appointment of Kinnear.
"Joe might not be known by some of the players but the people running the club know Joe is a fighter and he'll give his best," he said.
(BBC)
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