With Newcastle owner Mike Ashley reportedly desperate to sell the club on a cut price of £100million, it was reported that Profitable Group, a Singapore based investment company linked to former Liverpool legend Steve McMahon had sounded their interest.
According to an official statement released ''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.''
One of the conditions for potential buyers is that they have to prove that they have the financial capacity to meet the asking price as well as to service the debts before discussions can start. According to sources, Keith Harris, the chairman of Seymour Price has been in touch with Profitable Group but it was also reported that some other buyers are also interested. This includes Freddy Shepherd, the former chairman of the club as well as sources from South Africa as well as from the middle east.
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