Singapore Group Linked To Newcastle
A Singapore-based investment group is the latest name to be linked with a takeover bid for Newcastle United whose owner Mike Ashley placed a £100m valuation on the club this week.
The Profitable Group, includes former Liverpool midfielder Steve McMahon, claims it has put in an offer to the club although Newcastle say they are yet to be contacted by the group.
Current owner Mike Ashley put the club up for sale following the team’s relegation from the Premier League at the end of the season.
Keith Harris, chairman of investment bank Seymour Pierce, has been appointed to broker a deal, which he expects to be completed by the end of June.
Harris stated that he had already been in contact with ‘two or three’ interested parties.
The Profitable Group is the first company to declare its interest in public. According to its official website, the group ‘exists to increase the wealth of its clients, its employees and its owners, through the provision of strategically selected investment opportunities’.
