Source: Daily_Mail
Takeover talk gets louder on Tyneside as Profitable Group confirms Newcastle interest
The Singapore-based Profitable Group has confirmed its interest in buying Newcastle.
Two days after it emerged that it was preparing to launch a bid to buy out Mike Ashley, the company released a statement on its website revealing it has made contact with investment bankers Seymour Pierce.
The statement said: 'The Profitable Group can confirm that it has expressed an initial interest in acquiring Newcastle United.
'A preliminary discussion with the representatives appointed to handle the sale of the club has been held, but contrary to some reports, no direct talks have been held with either the owner, Mike Ashley, or the chairman [sic], Derek Llambias.
'The group consider the leaking of the Group's interest in this matter unfortunate, and as supporters of Newcastle United, seek only to serve in the best interests of the club, the fans and the local community.
'The group will not be making any further comment at the present time.'
It is understood the Profitable Group has been in touch with Seymour Pierce chairman Keith Harris, although its is one of several parties to have done so with others at more advanced stages in their prospective bids.
One of the 'three or four' groups acknowledged by managing director Llambias to be in the race earlier this week is thought to be South African-based, while another originates from Oman.
In addition, former chairman Freddy Shepherd has been linked with another consortium.
Shepherd met Alan Shearer, the man who ended the last campaign as manager and the fans' favourite for the job on a permanent basis, to discuss possible ways forward.
However, potential buyers with a genuine interest will have to sign non-disclosure agreements and prove they can come up with the money both to meet Ashley's £100million asking price and service the club's remaining debt before substantive talks can begin.
Supporters craving some positive news from a club which is imploding before their eyes could be forgiven for starting to believe there are better times around the corner.
However, they have suffered false dawns before. Ashley initially put the club up for sale following Kevin Keegan's departure as manager in September last year as furious fans hit out at the way in which his 'Cockney mafia' was running it.
Seven consortia formally registered an interest, with some voicing their intention to re-appoint Keegan and provide transfer funds.
None was able to strike a deal - the price then was nearer £300million - and Ashley, perhaps believing he had weathered a storm, took the club back off the market in December.
But with the Magpies' decline having accelerated alarmingly under his continuing stewardship, the point of no return has been reached and passed.
Newcastle's need is growing by the day - with a week to go before the Coca-Cola Championship fixtures are released, they have an owner who does not want to be there, no manager and a squad of players they cannot afford - and several of whom they do not want - with no-one to take the decisions which need to be taken before a recovery can begin.
