Profitable Group step up Magpies interest

Published Add your comment

The Singapore-based Profitable Group have made formal contact with the people charged with the task of selling Newcastle.

It is understood they have registered their interest with Seymour Pierce a day after sources close to the group claimed it was planning a bid.

Several parties have contacted the investment bank, whose chairman Keith Harris has once again been handed the job of finding a buyer at owner Mike Ashley's asking price of £100million, but the process remains in its infancy.

There was again no official comment from the group's Singapore offices, while senior club officials had earlier dismissed suggestions that discussions had already taken place and revealed there had been talks with "three or four" other parties.

But Profitable have privately insisted they are serious candidates as a list of contenders gradually emerges.

The company, which has former Liverpool midfielder Steve McMahon as its group commercial director, is the first to raise its head above the parapet, although it may not be the last.

A South African consortium and an Oman-based group reportedly retain an interest in Newcastle, while speculation involving former chairman Freddy Shepherd refuses to go away.

Shepherd, who was left with little choice but to sell his shares to Ashley after he had bought out the Hall family, is rumoured to have been asked to spearhead a bid by an unidentified consortium.

Intriguingly, the city's evening newspaper, the Evening Chronicle, has claimed Shepherd has already held talks with Alan Shearer, although the nature of their meeting remains unclear.

Copyright (c) PA Sport 2009, All Rights Reserved.

Do YOU want to write for GiveMeSport? Get started today by signing-up and submitting an article HERE:

Premier League
Alan Shearer
Steve McMahon

Article Comments

Report author of article

Please let us know if you believe this article is in violation of our editorial policy, please only report articles for one of the following reasons.

Report author


This article has been written by a member of the GiveMeSport Writing Academy and does not represent the views of or SportsNewMedia. The views and opinions expressed are solely that of the author credited at the top of this article. and SportsNewMedia do not take any responsibility for the content of its contributors.

Want more content like this?

Like our GiveMeSport Facebook Page and you will get this directly to you.

Already Subscribed to Facebook, don't ask me again

Follow GiveMeSport on Twitter and you will get this directly to you.

Already Following, don't ask me again

Like our GiveMeSport Page and you will get this directly to you.

Already Subscribed to G+, don't ask me again