Source: Daily_Mail
Steve McMahon hopes to give Newcastle 'kiss of life' with improved takeover bid
The Steve McMahon-led consortium trying to buy Newcastle United have made an improved bid and hope to quickly conclude a deal that would see Alan Shearer offered the manager's job.
Former Liverpool and England midfielder McMahaon, the commercial director for the
Singapore-based Profitable Group, says he wants to give the relegated Toon Army the 'kiss of life'.
Newcastle managing director Derek Llambias has previously played down the group's chances of buying the club for the £100million asking price, but McMahon says they have lodged a 'realistic offer'.
'Our people have been in London all week working with lawyers and attorneys,' he told the Newcastle Chronicle. 'Make no doubt about it, the money is in place, we are for real.
'We initially made a tentative bid and discussions then took place. We were told to come back and that's what we've done.
There has been a formal offer and and we want to get things done and dusted as quickly as possible.'
McMahon is understood to not be interested in the manager's job at St James' Park and would take a hands-off role in the boardroom.
Installing Shearer as permanent manager would be popular with both fans - and also players that have threatened mutiny if the former England striker is not soon appointed.
'Everybody is in limbo and we are keen to put a stop to that if we can,' said McMahon. 'It's just heartbreaking, and it is affecting people's lives up there.
'Football is the be-all and end-all in Newcastle, and it is basically people's lives. We just want people to get on with their lives and tidy up the mess that has been caused.'
McMahon is hoping to hear back from the club in the coming hours, though owner Mike Ashley's PR man Jonathon Brill said nothing beyond confirming there was firm interest in the club.
The bid comes amid news that Ashley's Sports Direct empire has suffered a 91 per cent slump in profits.
The company have scrapped their final dividend costing Ashley about £3.4million. It is a further blow after investing £250m in Newcastle - sums he cannot fully recoup.
Sports Direct have suffered a 71 per cent slump in their share price since their 2007 flotation and profits crashed to £10.7m in the year to April.
Ashley's majority stake in the company has shrunk to £355m from £1.15billion and the company's debts at the end of last year were £431.3m.
