UK time is: 01:24:09
Vital Login
Social Login

Choose your club

Other Sites

Network Navigation

Vital Partners

'If It's Football, It's Vital'

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.




Use your social login to comment on front page articles. Login using you Facebook, Twitter, Google or LinkedIn accounts and have your say!



For the very latest Premier League odds

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

The Journalist

Writer: Mehzeb Chowdhury Mail feedback, articles or suggestions

Date:Tuesday June 9 2009

Time: 6:20PM

Your Comments

*****.
willowavfc
Thanks for that willowavfc. Insightful, indeed.
Mehzeb
Would be delighted with that style of set up. Seems far too good to be true.
BaldEagle
Dream come true? we can only wait and see!!
xpertweb.co.uk
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
Steve McMahon comes on the telly, and is a harcore Liverfool supporter. Why would he come to toon?
JT_daniel
 

Have Your Say

Log in...
with your social network     OR     with your Vital account

Recent Newcastle United Articles

Oh The Irony Pardew (Friday August 1 2014)

Grenier Agent Stirs The Pot (Friday August 1 2014)

Pardew Calling Remy Bluff? (Friday August 1 2014)

Petty Pardew Needs To Lose The Ego (Friday August 1 2014)

5 Years Since Sir Bobby Left Us (Thursday July 31 2014)

Remy Back OnThe Agenda? (Monday July 28 2014)

NUFC Chasing The Wrong Targets* (Sunday July 27 2014)

The Usual (Sunday July 27 2014)

Archived Newcastle United Articles

List All TOTT Articles
Have your say
Click here to suggest an article
Click here to suggest a poll

Vital Members League (view all)

1. Wilco 12
2. Toon_NoMatterWot 9
3. AMac 5
4. vin1892 5
5. kens mate 4
6. Nufc_Ben 4
7. Rexn 4
8. keggy_keagal 2
9. Bruce68 2
10. mark301171 2

League Results (view all)

Latest Results

League Table (view table)

Team P W D L GD Pts
9. Liverpool 0 0 0 0 0 0
10. Man City 0 0 0 0 0 0
11. Man Utd 0 0 0 0 0 0
12. Newcastle 0 0 0 0 0 0
13. Q.P.R. 0 0 0 0 0 0
14. Southampton 0 0 0 0 0 0
15. Spurs 0 0 0 0 0 0

Breaking League News

Corinthians Striker On The Radar?
Sunderland : 01/08/2014 23:18:00
Oh The Irony Pardew
Newcastle : 01/08/2014 22:54:00
Striker Due In But Not The One We Want
Newcastle : 01/08/2014 22:24:00
Grenier Agent Stirs The Pot
Newcastle : 01/08/2014 22:03:00
Emirates Cup Preview
Arsenal : 01/08/2014 19:32:00

Current Site Poll (view all polls)

Are we stronger than when we finished 5th?
Suggested By:  TNMW
Yes, there's absolutely no doubt we are 17%
Divvent be stupid man, what planet yee from? 83%