Newcastle's bid to appoint Glenn Roeder as permanent manager without the relevant coaching qualifications has been rejected by the Premier League.
But Roeder could get around the need to have a UEFA pro licence if enough member clubs of the Premier League supported a request by Newcastle.
In a statement the Premier League said: 'The Premier League board have considered Newcastle United's inquiry regarding the potential appointment of Glenn Roeder as their manager.
'Premier League rules require that managers hold the UEFA pro licence and do not provide for any dispensation.
'The only way the board would be prepared to allow Newcastle United to appoint Glenn Roeder as manager without the pro licence is if so directed by member clubs.
'In the event of permission being sought sufficient support from clubs would have to be obtained and a formal resolution tabled at the forthcoming Premier League AGM.'
Victory for Roeder's side over Barclays Premiership champions Chelsea on Sunday would see them finish seventh in the Premiership and snatch a place in the Intertoto Cup, handing them a two-legged chance of UEFA Cup qualification.
Seventh and the chance of European football that would bring would be a just reward for Roeder and in excess of what might have been expected when he took over from Graeme Souness.
At that point, Newcastle were lying 15th in the Barclays Premiership table, 11 points behind Bolton.
Shepherd insisted since handing Souness a transfer kitty of around £37million last summer, that a top-six finish was the minimum requirement.
However, having seen ambitions shrink under the Scot, he would be delighted if Roeder could salvage some tangible reward for an eventful season.
The former West Ham boss has fostered a meaningful recovery and the response of the players to his leadership has impressed the chairman.