Gareth Southgate will likely leave England with his last game as the Euro 2024 final defeat, according to former Three Lions talisman Alan Shearer.

England suffered another European Championship heartbreak on Sunday, falling to Mikel Oyarzbal’s 86th-minute winner in Berlin as Spain snatched a deserved 2-1 victory.

Southgate’s side are the first side in history to lose consecutive Euros finals, while the England manager is the first boss to ever suffer defeat in two European Championship showpieces.

With Southgate’s current contract ending in December, speculation remains rife over his future with reports linking Eddie Howe, Graham Potter and Mauricio Pochettino as potential replacements.

Shearer, a former England team-mate of Southgate, believes the Spain defeat may mark his last at the helm of the national side.

“My guess is – and it is only a guess – he may now say to someone else that it is their turn to try to get England over the line,” Shearer wrote in his BBC Sport column.

“If he does, then he has put the team in an excellent position for someone to take the team forward, to take that next step and win a major tournament.”

Southgate transformed England’s fortunes, steadying the ship to take them to unprecedented ground in the World Cup semi-finals in 2018 and the Euros finals in back-to-back editions.

“Gareth came in and put a smile on everyone’s faces – bringing the squad together,” the former Newcastle United striker added.

“He put the team in a much better position mentally and the spirit he nurtured helped us get to the final again.

“For achieving all of those things he deserves a huge amount of respect and gratitude, but it’s just unfortunate that – for all his excellent work – Gareth just wasn’t quite able to get the best out of this team in Germany, and that was the difference between us reaching another final and winning one.”

We fell short of what we wanted to achieve this summer, but this group gave everything and have done us proud.

Your support in Germany and back home has been incredible. Thank you. pic.twitter.com/YBivqQXfJe

— England (@England) July 14, 2024

With the World Cup to follow in 2026, a new era may await England, who must bounce back once more after another setback on the biggest stage.

Regardless of who takes charge in that tournament, Shearer insists Southgate should be proud of his achievements.

“Gareth will be hurting like hell after what happened in Berlin but my feeling is that, when the dust settles on the final of Euro 2024, he will decide he’s had enough,” Southgate’s Euro 1996 team-mate said.

“It should be his decision to stay or go – and I think it will be – but it is a tiring job and he has been doing it for a long time.

“If he does leave, he should go with his head held high because England are in a completely different place now compared to where they were when he took over in 2016.”