The Profitable Group, based in Singapore and headed up by ex Liverpool player Steve McMahon, is believed to be sizing up a bid for the Magpies.
The group are believed to be keen to sign up Alan Shearer on a long term contract should the bid prove successful. Something that is likely to prove very popular with the passionate Geordie supporters
Newcastle have received no official approach according to a Newcastle statement earlier today. They also stated that the club has already been contacted by three possible buyers. The Profitable Group is the only buyer to so far declare a public interest in buying the club. It is widely understood that Mike Ashleys’s selling price is £100m.
Steve McMahon played for Everton, Aston Villa, Liverpool, Manchester City, Swindon Town during a 19 year playing career which also included 17 caps for England. He managed Swindon Town between 94-98 and had brief managerial spells at Blackpool and Perth Glory. He joined the Profitable Group as Group Commercial Director in March 2008. It was reported in the British Press a few months ago, that the group had tried to purchase his old club, Everton, but the bid was not successful. Will McMahon get his hands on an English Club this time around?
Information from the Profitable Group website states; “Vision Statement: To be internationally recognised as a premier provider of Strategic Global Investment and a responsible and ethical builder of wealth.” Does such a philosophy to investment make the Barcelona system of fans sharing the ownership of the club more likely?
