Speaking to the Sunday Mirror newspaper, Shepherd said:
"We did not go into the transfer without a long-term plan and our record shows we can be trusted to deliver quality players.
"I am not going to say too much but I think fans will be pleasantly surprised at what results from the deal."
Shepherd also revealed that one of the factors regarding the sale of Woodgate, was his recent injury history:
"Jonathan is a great player but he has been dogged by injuries. He has been unlucky in that respect but, as someone once said, there is no point having a Rolls-Royce if it spends most of its time in the garage.
"We hope Jonathan will get over his injury problems and go on to have a long and successful career with Real and England.
"But I won’t pretend that his appearance record at Newcastle wasn’t a factor in our decision to sell him.
"He hasn’t played for us since April and was going to be out for at least another month.
"When I weighed up the pros and cons it was obvious we had to accept the offer."
Sir Bobby Robson had this to say:
"The chairman informed me a bid had come in for Jonathan and I said to him: ’You’re aware I don’t want to lose him, aren’t you?’ I told him: ’You are aware we will be losing the finest centre-half in the country?’
"I always wanted to fight and keep him but when Madrid came in I knew it would be hard.
"But quite simply, if it had been my choice, I would have kept him.
"We’ve lost a great player and how much of a blow that is will depend on who we can get to replace him."
Who would you like to see arrive at SJP?