The veteran striker was sent off last weekend in the 86th minute of the draw at Forfar by referee Craig Charleston, with the manager insisting the official misinterpreted an innocent friendly gesture by Bayne towards his former Inverness team-mate Darren Dods.
However, Arbroath will not be appealing the decision because of the potential costs involved with the SFA requiring a £250 fee which would only be returned if the red was rescinded.
Sheerin added: “I thought Bayney’s sending-off was very harsh. I think he knows Dodsy well and there was a wee coming together after which Bayney just rubbed his head.
“However, the referee decided to show him a red. I suppose under the strict letter of the law he had raised his hands to an opponent but it was still hard to take.
“We will not be appealing the decision. That costs money a club our size can ill afford to lose if the appeal was rejected.”
Source: Lichties Mad