Source: SKY_Sports
Hopes high for quick Magpies deal
The Profitable Group admits time is running out to complete a proposed takeover of Newcastle, but it remains confident a deal can be struck.
Current Magpies owner Mike Ashley has been unsuccessfully attempting to sell the club, who were relegated to the Championship last season, for a number of months.
The Profitable Group is among a host of bidders attempting to buy the North East outfit ahead of the new campaign, but Ashley's reported £100million valuation has yet to be met.
However, the Singapore-based strategic global investment group is optimistic a quick agreement can be reached before the new term begins in three weeks.
Former Liverpool midfielder Steve McMahon, who is the Profitable Group's commercial director, said: "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.
"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."
McMahon underlined funds would be in place to overhaul the squad but played down any prospect of a massive spending spree.
"There will be money available, it depends how much we acquire the club for, we've put a certain amount of money aside and if we have to up the bid for Newcastle then that leaves us less money for players," he added.
"We're not saying we're going to be a Manchester City because we're not. We want to run it as a business and whatever money is available we will give to the manager if we're successful and it's all about if we're successful in the bid."
McMahon also again reiterated they would be keen to re-appoint Alan Shearer if their bid was successful.
"We need to get the club first but we would certainly be looking to keep Alan, he would be a major draw for players to the club and for the supporters," he said.
"We understand the situation and Shearer is part of the future for Newcastle - if we acquire it."
