With any takeover of Newcastle United unlikely to materialise until next week at the very earliest, one potential buyer did at least break cover today.
Steve McMahon said that the Singapore-based investment company, The Profitable Group, has submitted a bid for the newly relegated club. Now The Profitable Group's commercial director, McMahon, the former Liverpool and England midfielder, says its first act would be to appoint Alan Shearer as manager.
Even so, sources have suggested Profitable is not a major contender to buy out Mike Ashley, and question why McMahon would breach the non-disclosure agreements which were supposed to bind all would-be purchasers to secrecy.
"We've had a bid in and it's under serious consideration," McMahon told Singapore's Straits Times. "It's a strategic move and will be great for Newcastle. We can turn what is a disaster at the moment into a success."
While it is understood Seymour Pierce, the investment bank brokering the sale, have yet to recommend a buyer to Ashley, the feeling is that one consortium from Malaysia and another from the United States remain in pole position.
In the meantime Chris Hughton, Newcastle's caretaker manager, is in Ireland with his squad ahead of tomorrow's opening pre-season friendly at Shamrock Rovers.
"The feeling is that it [a takeover] is hopefully not too far away," said Hughton today. "But until I'm told otherwise I'm here to hold the fort for as long as possible. It does seem like there are things going on, though, and, obviously, the sooner something happens, the better for all concerned.
"As far as I know there have been at least two parties who have made an offer and I could be in charge for another two days, another four days or a bit longer. But I would have thought something would happen sooner rather than later."
if this is true and Profitable Group (based in stanley street) won the bid to buy newcastle, wow, first singapore based company ownership not in EPL, but division 1 haha.
i think profitable group shouldn't buy now
i mean like what shearer said. getting relegated means they need to restructure the team, but now its going to be pre-season and not even single signings for nc.
Originally posted by Y_Shun:i think profitable group shouldn't buy now
i mean like what shearer said. getting relegated means they need to restructure the team, but now its going to be pre-season and not even single signings for nc.
with the current uncertainties, no transfer will b done.
priority is to sort out the ownership issue, manager den follow by the squad.
not sure why Profitable Group wants to buy Newcastle, as they are not in the business of owning football club, wonder what their business intentions are? probably branding?
but if the ownership deal ends fast, as he claimed, shearer would be appointed manager and then transfer can be made.
they are not moving fast enough.
at the rate they are going newcastle will be in league one next season.