Source: Eurosport
McMahon ups ante in Magpies takeover bid
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.
Ashley values United at £100million but while there has also been reported interest from Malaysian and American consortiums, the Magpies still remain in turmoil with no permanent manager, no activity in the transfer market and the start of the season just under three weeks away.
"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," McMahon said.
"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."
