Speaking to Betfair, Shearer said: "Steven Gerrard has left Saudi Arabia, and I hope he gets back into management in the UK. He clearly doesn't have to work, but I hope it's not the last we've seen of him or Wayne Rooney.
"I hope someone somewhere gives Gerrard the opportunity to go in and manage just like Frank is doing really well at Coventry now. Frank has taken Coventry from the relegation places really close to the play-offs so I hope, very much like Frank, that Gerrard gets another job somewhere in the game."