Vital Football

Latest Newcastle United News

Profitable Group plotting United takeover

Profitable Group plotting United takeover

According to reports in the British press, Singapore-based Profitable Group are the latest company to express interest in taking-over Newcastle United. The Evening Chronicle cites a source who claims that former Liverpool and England International Steve McMahon is handling the deal, and may take former Chairman Chris Mort's job at St James' Park.

Profitable Group already has strong ties with Premiership giants Liverpool, with Kop legend Kenny Dalglish on their payroll.

The Singapore-based group has revealed an intriguing plan to turnaround the fortunes of the hapless Magpies which includes: turning Newcastle United into a trust which will give fans a major say in club politics and draw similarities with the Barcelona model in La Liga; appointing Alan Shearer as manager and then backing the Newcastle icon with transfer funds to help the side get back into the Premier League; ensuring a footballing figure's appointment at boardroom level to ensure that Mike Ashley's series of high profile errors are never repeated; and increasing the capacity of St James`s Park to 60,000 in the next three years.

A Profitable Group spokesperson, while speaking to The Evening Chronicle revealed:

"Yes we are interested in buying Newcastle United - and we`re putting together a plan."

"We have spoken with Mike Ashley and Derek Llambias and we are hoping that we can reveal a lot more in the next few days."

"We have people within the company who have strong Geordie roots that stretch more than 40 years."

"And there are people here who have a love for the club - we think that is vital for Newcastle at the moment."

"The plan we have in mind is to get the club on a sound financial footing first and foremost."

"Then we aim to turn the club into a trust."

"It will be very similar to the Barcelona model where fans have a major say on what happens at the club." "Without any question we see Alan Shearer as the man to manage the team."

"Yes, we have Steve McMahon on board but he is not looking into management."

"He is though a football man and understands the game inside out." "There is also scope to look at increasing the capacity to 60,000 which is being explored."

"We will look to give Alan time to spend and funds to build his squad - but we have to say now that we are not interested in highly paid players at this moment in time - we won`t be a Chelsea.'

The spokesperson also added: "What this club needs now is somebody who understands the area, understands the people and how this club works."

"Steve McMahon can offer expertise in the background. But Alan is the man we want."

The Group is expected to table a bid in the region of £100 million in the next few days with a swift completion of the deal tipped by insiders on Tyneside.

Win FREE pizza with Vital Football!
Select your team and get 50% off if they score twice.
www.papajohns.co.uk/football



For the very latest Premier League odds

Click here to join in the debate on the club forum.

Writer:Mehzeb Chowdhury
Date:Tuesday June 9 2009
Time: 6:20PM

Comments

0
*****.
willowavfc
09/06/2009 18:23:00
0
Thanks for that willowavfc. Insightful, indeed.
Mehzeb
09/06/2009 18:25:00
0
Would be delighted with that style of set up. Seems far too good to be true.
BaldEagle
09/06/2009 18:57:00
0
Dream come true? we can only wait and see!!
xpertweb.co.uk
09/06/2009 19:55:00
0
Now that looks promising indeed. There will be much better options than letting Shepherd back with his consortium. The club is still a massive one and as football investments go must look very attractive compared to most Premiership sides. Anyone for Dalglish as director of Football and Shearer as his First Team Manager?
Sindbad
09/06/2009 20:53:00
0
Steve McMahon comes on the telly, and is a harcore Liverfool supporter. Why would he come to toon?
JT_daniel
10/06/2009 11:23:00
Page 1/1
  1. 1

Login to post a comment

Recent Newcastle United Articles

Audio - Massive Win For Benitez

Manager Rafa Benitez has spoken about how massive a victory today was for Newcastle in the battle to avoid relegation.

Stats: Newcastle v Crystal Palace

All the stats from Newcastle (1) vs (0) Crystal Palace, St James' Park, 30/4/16 Att: 52,107

Newcastle v Palace - Team Sheets

Newcastle are at St James' Park with Crystal Palace the visitors today, this is a 3pm kick-off - the line-ups have been confirmed.

Benitez Expecting Tough Palace Clash

Manager Rafa Benitez has said he's expecting a tough clash when we face Crystal Palace this weekend, but he wants Newcastle to focus on their own energies and strengths...

Archived TOTT Articles

TOTT articles from

Site Journalists

Ken Waugh
no email
Profile
TNMW
Editor email
Profile
Ian Smith
no email
Profile
Rexn
no email
Profile
BowburnMag
no email
Profile

Current Poll (see more polls)

Palace MotM
Suggested By: Site Staff
Darlow34%
Anita0%
Mbemba0%
Lascelles16%
Dummett0%
Tiote0%
Colback0%
Townsend50%
Sissoko0%
Wijnaldum0%
Cisse0%
Sub - Mitrovic0%
Sub - Perez0%
Sub - Shelvey0%
ScoopDragon Premier League Network Sites

League Table

# Team P W D L Pts. GD
1 Leicester City 35 22 10 3 76 30
2 Spurs 35 19 12 4 69 39
3 Arsenal 36 19 10 7 67 25
4 Man City 35 19 7 9 64 32
5 West Ham 35 15 14 6 59 17
6 Man Utd 34 17 8 9 59 12
7 Liverpool 34 15 10 9 55 13
8 Southampton 35 15 9 11 54 12
9 Stoke 36 13 9 14 48 -14
10 Chelsea 34 12 11 11 47 7
11 Everton 35 10 14 11 44 6
12 Watford 35 12 8 15 44 -6
13 WBA 36 10 11 15 41 -14
14 AFC Bournemouth 36 11 8 17 41 -20
15 Swansea 35 10 10 15 40 -15
16 Crystal Palace 36 10 9 17 39 -10
17 Newcastle 36 8 9 19 33 -25
18 Sunderland 35 7 11 17 32 -18
19 Norwich 35 8 7 20 31 -26
R Aston Villa 36 3 7 26 16 -45
Latest F1 News
Latest Vital Boxing News

Recent Newcastle United Results (view all)

Newcastle United Fixtures (view all)

May 7 2016 3:00PM : Aston Villa (a)
Barclays Premier League
May 15 2016 3:00PM : Tottenham Hotspur (H)
Barclays Premier League

Vital Members League Table

RankNamePoints
1.PieMag2
2.vin18921
3.Toon_NoMatterWot1
4.Neppos1