The financial rules that are in place in the league are there to avoid clubs incurring too many losses.
However, after Newcastle were forced to sell Elliot Anderson to Nottingham Forest, Shearer believes the rules need adjusting.
“I don’t like the PSR rules anyway. I’ve told you what my feelings are about them,” the former Newcastle striker said on The Rest Is Football podcast.
“I just think it’s a restriction of trade when you can guarantee you’ve got that money and are profitable and sustainable, and you can put a billion quid in to safeguard and ensure that everything is right in the future, then I don’t see why you shouldn’t be allowed to challenge and buy players.
“And particularly with the way it’s run with clubs being forced to sell their youngsters because that’s more profitable and gives them a better financial gain going forward in the future. I just don’t agree with those rules.
“We know why it was brought in - to safeguard clubs. I just don’t agree with the rules that are there at the minute.”