Given Chelsea's advantage going into the final game of the season I would be amazed if there was another twist.
But Shearer, who scored 30 goals in 63 internationals, is far more bullish about England's chances this summer because of one man.
Rooney is sensational, he said. Sir Alex Ferguson asked the question of his last summer. He wanted him to prove he could fill the void left by Cristiano Ronaldo and Carlos Tevez and the goals he's scored this season have proven that he's done that and more.
Sometimes when you are a striker goals can mask your performances, but that hasn't been the case with Rooney. I don't think his performance levels have dipped once all season.
If he's not the best, then he's certainly in the top three players in the world. If you look at the best players, they are the ones who score the goals and Rooney is right up there with Leonel Messi, Ronaldo and Kaka.
I wouldn't say it is a case of no Rooney, no chance, said Shearer. But without him our hopes are severely limited.
If he is playing then we've got a real chance. If not then we would have to cross our fingers and hope for the best.
With Rooney as part of a squad that is full of ability, we've got a chance. We will still need luck as all World Cup winners do and I can see why Brazil and Spain are the favourites but with Rooney we can do it.
He is to England what Messi is to Argentina and Ronaldo is to Portugal.
He's not surprised me at all with his performances this season. I'm a huge fan and just love the way he plays the game.