Newspaper article The Journal (Newcastle, England)

Money's on Table, Insists McMahon

Newspaper article The Journal (Newcastle, England)

Money's on Table, Insists McMahon

Article excerpt

Byline: Luke Edwards

NEWCASTLE United have once again tried to dismiss claims from the Profitable Group that they are close to completing a takeover of the ailing Championship club.

The Singapore-based investment group have made constant assurances they are serious about buying the club from owner Mike Ashley.

But they have consistently been dismissed as time wasters by the Newcastle hierarchy - who maintain they are still waiting for the group to show they are genuine bidders by proving they have the funds to complete the takeover.

Indeed, one source close to the deal said they were "a million miles away" from being in a position to buy the club, and have offered nowhere near the pounds 100m asking price.

The source said: "The Profitable Group have been asked to provide proof of funds so that negotiations can continue and they have still not done that.

"You have to wonder, when they are talking their interest up the whole time without actually doing the things that are required of them, whether they are serious or merely seeking publicity."

However, that has not prevented former Liverpool midfielder Steve McMahon from once again pushing Profitable's name forward.

McMahon acts as an ambassador for the group and has always denied they are merely using the sale of Newcastle United as a publicity-seeking stunt.

The Journal also understands that the group have held discreet talks with Alan Shearer regarding what sort of money will be available if their bid is accepted.

McMahon said: "We need something to happen very, very quickly, for Newcastle supporters and for the players.

"The season is only two or three weeks away for the Championship to start. 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. …

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