Following Fearon's arrest, he admitted he had planned to rob Mr Kershaw, police said.
BBC: Vincent Kershaw death: Michael Fearon jailed for murder
Mr Fearon resigned at the start of October and plans to leave at Christmas.
The college said it thanked Mr Fearon for his service over the past 10 years.
However, Fearon's car had been spotted on CCTV on Willows Lane on four separate occasions on 4 October.
BBC: Vincent Kershaw death: Michael Fearon jailed for murder
Michael Fearon, 57, of Timbercliffe, Littleborough, had pleaded guilty to murder at a previous hearing at Manchester Crown Court.
BBC: Vincent Kershaw death: Michael Fearon jailed for murder
Fearon was told he will serve a minimum of 25 years in prison.
BBC: Vincent Kershaw death: Michael Fearon jailed for murder
Bill Fearon resigned from K College on Monday night at a meeting of governors which was discussing the cuts.
The farmer was cleared of attempting to murder Fearon and of possessing a pump-action shotgun with intent to endanger life.
Joel Fearon will also make his senior debut in the event after Mark Lewis-Francis was ruled out because of injury.
Martin was also convicted of wounding a second burglar, Brendan Fearon, 30, also of Newark, with intent to cause grievous bodily harm.
Fearon, who was shot in the groin by Martin, said all three shots were fired in the breakfast room and not from the stairs.
In his absence, the 32-strong Great Britain and Northern Ireland squad for Paris includes Harry Aikines-Aryeetey, Dwain Chambers and Joel Fearon for the men's 60m sprint.
Police said as a potential witness, Fearon told them he had got to know the victim at a care home where Mr Kershaw's wife spent her last years.
BBC: Vincent Kershaw death: Michael Fearon jailed for murder
Ms Fearon has been co-opted as an MLA, replacing Conor Murphy in Newry and Armagh as part of the party's phasing out of double jobbing by its MPs.
BBC: Culture shock for Stormont's youngest MLA, Megan Fearon
He also injured 29-year-old Brendan Fearon in the same incident.
Whilst the 86-year-old Queen made her way through the rain towards Enniskillen, 20-year-old Megan Fearon was preparing to take her place as the youngest member of the Stormont Assembly.
BBC: Culture shock for Stormont's youngest MLA, Megan Fearon
Fearon told police that he had last seen Mr Kershaw on 1 October when he paid some money into a bank for him and had not been to his home since.
BBC: Vincent Kershaw death: Michael Fearon jailed for murder
That was then, this is now and I'm sure by the time she arrives in the Stormont chamber Megan Fearon will be on message - once Sinn Fein has worked out exactly what the party line is on Desperate Housewives.
BBC: Culture shock for Stormont's youngest MLA, Megan Fearon
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