McMahon ups ante in Magpies takeover

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Football News

Commercial director Steve McMahon admitted time is running out on the Profitable Group's proposed takeover of Newcastle but is still hopeful the Singapore-based strategic global investment group can acquire the club.

The Profitable Group are among a number of bidders attempting to purchase the troubled north-east outfit from owner Mike Ashley following their relegation to the Championship.

"The mess is the attraction - that's what makes it viable. If we can clean the mess up and run it properly and run it as a business and get the contracts in hand and be realistic, there lies the issue for us and we think we can do that," said McMahon.

"We've made an offer, we're waiting for Newcastle's response but we're hopeful, we're trying our best to make this happen.

"It's got to be in the near future, I would imagine this week would be crucial. If we don't hear anything back by the end of the week, it doesn't look hopeful.

"It needs something to happen very, very quickly for the Newcastle supporters, for the players and we're trying to make that happen.

"We can only make the offer that we believe is right, we've done our homework, our due diligence, the funds are in place and we've done our best to try and get the club. We've made a very serious and genuine offer, we're just hoping we hear something soon.

"We're not looking to steal the club off Mike Ashley. We've offered what we believe is the value of the club. We believe the expertise we have in marketing and the football side of it, we can make this work."

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Steve McMahon

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