Source: Eurosport
McMahon - We can turn Magpies into a success
Former Liverpool midfielder Steve McMahon has revealed his investment company the Profitable Group have submitted a bid to buy Newcastle that is under "serious consideration"
McMahon is group commercial director of the Singapore-based organisation, who are believed to be the first party to have expressed strong interest in taking over the Championship club.
Current Newcastle owner Mike Ashley admitted last week he had received at least two offers of £100million, while managing director Derek Llambias confirmed several bids had been tabled as hopes of a quick sale grow.
Malaysian businessman Ananda Krishnan recently denied reports he is interested in purchasing the north-east outfit but McMahon has made no secret of the Profitable Group`s intentions after they expressed an "initial interest" back in June.
He has told Singapore`s The Straits Times: "We've had a bid in and it's under serious consideration. It's a strategic move and will be great for Newcastle. We can turn what is a disaster at the moment into a success.
"By the end of the week, we'll know if we're successful or not."
