It seemed a given that Magpies boss Alan Pardew would sign up the France striker from Marseille to replace departed top scorer Demba Ba, but Harry Redknapp scooped the deal to take Remy into a relegation scrap at Loftus Road.
Newcastle are in trouble near the foot of the table too, and former England captain Shearer - the north-east club's all-time record scorer - is convinced money must have been the key factor.
"I am surprised to see Remy go to QPR instead of Newcastle," said Shearer, who was speaking at the launch of the FA's 150th birthday celebrations.
"I would have a good guess that financial things had a part to play.
"Harry (Redknapp) will tell you a different story but, whilst I love Harry and I hope QPR get out of it, I find it hard to say he chose them over Newcastle."
Remy's decision has undoubtedly left Newcastle with a problem, initially created by Ba's demand to join Chelsea. The Senegal man is still Newcastle's leading scorer with 13 goals.