Shearer put off by financial problems at Cardiff

The former England captain will not be taking charge of Cardiff City (GETTY IMAGES)

Alan Shearer accepts the career he covets in management must start with a period outside of the Premier League, even though the financial problems facing Cardiff City have deterred him from taking up the reins in South Wales.

Sources in Cardiff described the task facing David Jones' successor as huge, with a squad of only 15, £40m of debt and Malaysian owners who have paid Inland Revenue bills and the on-loan Craig Bellamy's £25,000-a-week wages – but not resolved underlying financial problems.

Watford's Malky Mackay, is now set to succeed Jones, with £300,000 enough for his club to let him talk to Cardiff, but his kitty is not likely to be more than £5m.