Profitable group step up Newcastle interest

10 June 2009 14:12
The Singapore-based Profitable Group have made formal contact with the people charged with the task of selling Newcastle. It is understood they have registered their interest with Seymour Pierce a day after sources close to the group claimed it was planning a bid. Several parties have contacted the investment bank, whose chairman Keith Harris has once again been handed the job of finding a buyer at owner Mike Ashley's asking price of £100million. However, despite the sportswear magnate's insistence he will sell the club on a first come, first served basis, the process remains in its infancy. There was again no official comment from the group's Singapore offices, while senior club officials had earlier dismissed suggestions that discussions had already taken place and revealed there had been talks with "three or four" other parties. But Profitable have privately insisted they are serious candidates as a list of contenders gradually emerges.

Source: Eurosport