The Premier League’s all-time record goal scorer was keen to play down the expectations of Newcastle fans but does believe that there is a ‘feel good factor’ back at St James’s Park.
Speaking on BBC Radio 5 Live, Shearer said: “Immediately, already it will get fans back on side, it will have the feel good factor back in and around the football club.
“Don’t listen to people that have been telling you about Newcastle fans, how much they demand and how much they want and expect - they don’t.
“They want hope, that’s all they want. They want to go and support their football club, hoping that they will put in a good performance, hoping they will improve, and hoping that they will go after a cup competition this season - that’s all they want.” Shearer said.
“I think we all understand that it is going to take time. When you look at other examples where it has happened at Chelsea and Manchester City, it has taken time.
“But eventually, because of their ambition, they will get there and brighter times are ahead for Newcastle and the Newcastle fans.”
The takeover of Newcastle, of which the Public Investment Fund of Saudi Arabia has an 80% stake, has been criticised by many, including Amnesty International who have questioned Saudi Arabia’s human-rights record.
And whilst Shearer is excited about the takeover, he also believes that these tough questions should continue to be asked.
“I think it’s right and correct that those tough questions are asked but I also think it’s right and correct that the Newcastle fans are able to celebrate that the previous owner has now left.
“The new owners have now come in and they were able to pass the Owners and Directors Test that was nothing to do with Newcastle fans.
“They already invest in our country but what has happened and what should continue to happen and will happen is that those tough questions are asked about human rights.
“Already over the last few days, the bigger questions have been asked and that can only be a good thing.”