Source: SKY_Sports
Profitable withdraw Toon bid
Profitable Group have withdrawn their interest in buying Newcastle United.
The Singapore-based group had been one of the leading candidates to take over at St James' Park.
But Sky Sports News understands that the group were unable to provide proof of funding of £100million needed to purchase the club.
The group, whose commercial director is former England international Steve McMahon, had stated their intention to bid for the club and to appoint Alan Shearer as manager.
But now the bid has fallen by the wayside, meaning a takeover before the start of the new season looks increasingly unlikely for the beleaguered North East giants.
