Newcastle manager Kevin Keegan has confirmed that Alan Shearer will not be his assistant - but insists he could still have a role with the club.
Shearer will hold further talks with Keegan on Monday
Shearer, 37, confirmed his willingness to work with the club after Keegan's shock re-appointment last week.
The pair held four hours of talks on Thursday evening but decided the "dream ticket" partnership was a non-starter.
They meet again on Monday but Keegan said: "We'll see what happens but it will not be as number two."
Former boss Keegan, 56, returned to the club last week after an 11-year absence, replacing the sacked Sam Allardyce.
He originally took Shearer to Newcastle for a then world- record fee of £15m in 1996, with the former England striker racking up a club record club record 206 goals, including 148 in the league.
Shearer was even tipped for the top job himself but the current board were reluctant to gamble on him, given his lack of experience.
But BBC Radio 5 Live's Mike Sewell believes Keegan would like Shearer to have a role within his management staff, possibly as a strikers' coach
Keegan said: "I had four hours in his company. We had an excellent meeting.
"We talked in detail about this club - I know all his views on it now, he knows all mine.
"It was great to see him again because I haven't really been in contact with Alan for a year, and I think we both missed that.
If Alan comes it will be a role that's worthwhile, or he will say, 'No, not at the moment'
"Alan doesn't come in here (to the training ground), he doesn't come in and around this place, and I would like to encourage the old players to come back.
"I used to get them all coming back at Manchester City.
"If Alan comes it will be a role that's worthwhile, or he will say, 'No, not at the moment' because like we both said, if it is not worthwhile, let's not do it.
"That's where we are with it."
Meanwhile, Michael Owen has told Keegan that he is prepared to accept the Newcastle captaincy on a permanent basis.
The England forward took the armband for last week's goalless Premier League draw with Bolton.
And he told Newcastle's official website: "The gaffer came to me after the Bolton game and asked if I wanted to be captain.
"It was a surprise but of course I said yes. It was a tremendous honour and, at 28, it's a role I'm ready for and I'd love to continue in."