Newcastle manager Rafa Benitez wanted more players in January
Benitez vented his frustration at owner Ashley after Newcastle failed to land any of their top transfer targets in January.
Newcastle sit second in the Championship heading into today's 3pm kick off with promotion-chasing Derby.
Benitez's future is in serious doubt following the disagreement with Ashley, who backed out of a deal to sign Andros Townsend from Crystal Palace.
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But Shepherd reckons Benitez is acting up just as any manager would when he doesn't get his own way on transfers.
"Benitez is no different as any other manager," Shepherd told talkSPORT.
Mike Ashley pulled out of a deal to sign Andros Townsend
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Benitez was hoping to sign Townsend (right) on loan from Crystal Palace
"They throw their toys out of the pram when they don't get what they want and he's no different.
"You've seen it a hundred times in football, throw a lot of money at it and (the problem) doesn't work.
"I spent £300million on transfers and it's very difficult for it to work out."