Magpies boss Alan Pardew lined the France international up to replace departed top-scorer Demba Ba, only to get gazumped by Harry Redknapp at QPR. Quite why Remy should choose QPR ahead of Newcastle is a mystery to Shearer, and one which the former England skipper can only reasonably explain came down to cash.
"I am surprised to see Remy go to QPR instead of Newcastle," said Shearer. "I would have a good guess that financial things had a part to play. Harry (Redknapp) will tell you a different story but whilst I love Harry and I hope QPR get out of it, I find it hard to say he chose them over Newcastle."
Remy's decision has undoubtedly left Newcastle with a problem, initially created by Demba Ba's demand to join Chelsea. The Senegal man is still Newcastle's top scorer with 13 goals, but it is obvious he has more chance of lifting silverware at Stamford Bridge than he has at St James' Park.
"It is a tough one for him," said Shearer.
"He will believe he has a better chance of winning things there and at the moment he probably has. Having said that, he gave his all in a Newcastle shirt, played well and scored goals, so I don't think anybody can complain.
"But it is disappointing to see our top scorer leave. Hopefully, they will have a plan B and a plan C because it's left Newcastle with a huge gap that they obviously need to fill."
Remy's arrival is particularly painful because it leaves Pardew short of forward options ahead of key games against Reading and Aston Villa that will shape Newcastle's season.
After just two wins in 13 Premier League games, Pardew knows if his players collect six points they can look forward to the remainder of the campaign with renewed optimism. Draw a blank, however, and Newcastle will be in big trouble.
"The next two games are vital," said Shearer. "At this moment in time, I still believe they are too good to go down. But that has got to be proved between now and the end of the season and we desperately need a win, otherwise then the pressure will really crank up."