Alan Shearer will make no decision on whether to remain as Newcastle manager until he has held talks next week with club owner Mike Ashley following the club's relegation from the Premier League.
Newcastle's fate was confirmed after 16 years in the top flight when they were beaten 1-0 at Aston Villa via a first half own goal from Damien Duff.
Shearer conceded that the Magpies had let down the club's vast army of supporters, but admitted that over the season Newcastle had "not been good enough" to hold on to their place amongst the elite.
Shearer said: "This is so painful. This really hurts. The second half summed up our season in that it was flat and we ran out of legs. But we haven't been relegated because of what happened. We have gone down because of has happened over 38 games.
"Big changes need to be made at the club, players need to go in, players need to go out. But we haven't given our magnificent supporters enough to shout about. We have let them down."
Shearer added: "I came in expecting to turn things around. I take my share of the blame. I thought I could get the right results for us. I will sit down with the owners and the chairman sometime this week and give my opinions. Have I the desire to stay on? I know you won't believe it but I haven't had the time to sit down and think if that is the right thing for the club."