Shearer escapes fine
Bellamy was sent off in the match, with the referee deeming a clash with Marco Materazzi as violent conduct, and Shearer was handed a ban retrospectively after being caught on camera elbowing Fabio Cannavaro.
However, the club feel that, whereas Bellamy was fined the maximum two weeks wages for his red card, Shearer was provoked by Cannavaro and should not be hit in the pocket.
Bellamy may be slightly mollified by the club's insistence that the player's discipline problems in Europe will not affect his wage negotiations, temporarily halted after the incident.
"Our view is that Craig paid a very high price financially and personally for what happened against Inter - and enough is enough," said chairman Freddy Shepherd.
"I'm sure talks will resume in the near future.