The Championship club have been operating under the restrictions of a transfer embargo since December 2014.
They were one of three second tier sides to breach Financial Fair Play regulations, and were punished accordingly.
Leeds United have seen their sanctions lifted, while Nottingham Forest’s deadline day sale of Michail Antonio to West Ham United will see them free to spend again from next summer.
Blackburn, though, still have their hands tied, despite parting with Rudy Gestede, Tom Cairney and Josh King during the recent transfer window.
Shaw concedes that another sale will be required, with the Lancashire Telegraph suggesting that a deal of around £5million would be enough to exit the embargo.
That means manager Gary Bowyer will be unable to do much business in January, while speculation regarding the future of prized asset Jordan Rhodes – the man who would demand the biggest fee from any sale – is likely to intensify.
Shaw said: “We’re still probably a biggish sale short of it being lifted but I can’t really give you any more details on that at this moment in time. But, as it stands, we’re still under an embargo.”
He is yet to open his account for this season, but were he to find some form heading into the New Year, then it may be that Rovers decide to cash in and free themselves to pursue other targets further down the line.