Takeover could turn Newcastle into Barcelona-style trust
The investment group linked to a multi-million pound takeover of Newcastle United has refused to comment on reports of the bid which would turn the Championship (second division) side into a Barcelona-style trust.
"We are aware of the reports but we have no comment at the moment," John Gaunt, Chief Executive Officer, Profitable Group, told Reuters when contacted at his Singapore headquarters today.
The investment group had contacted advisor Seymour Pierce to conduct the sale, Britain's Financial Times reported.
Former Liverpool and England midfielder Steve McMahon is on the board of Profitable, which told the Newcastle Evening Chronicle that it had spoken to Newcastle United owner Mike Ashley and was putting together a plan.
Ashley officially put the recently relegated club up for sale on Monday for £100m.
The Evening Chronicle reported on Tuesday it had seen the company's initial blueprint for a takeover and that a source had outlined some of the groups plans including:
* Turning the club into a trust where fans hav3e a major say
* Increasing St James' Park capacity from 52,000 to 60,000
* Retaining Alan Shearer as manager
Profitable Group is the company behind Liverpool's visit to Southeast Asia next month. The Premier League giants will play games in Bangkok and Singapore during the tour.
According to its website, the Profitable Group "exists to increase the wealth of its clients, its employees and its owners, through the provision of strategically selected investment opportunities".
The group says its aim is "to be internationally recognised as a premier provider of strategic global investment and a responsible and ethical builder of wealth".
McMahon is not the only soccer connection the investment group boasts.
Former Celtic, Liverpool and Scotland striker Kenny Dalglish is listed as UK Operations Advisor while ex-Birmingham City player Paul Masefield is listed as a Sponsorship Manager.
Latest in Sport
Andy Murray tells how coach Amélie Mauresmo revealed her pregnancy
Floyd Mayweather vs Manny Pacquiao: The biggest fight of all time, or maybe just the most lucrative?
What time does Floyd Mayweather vs Manny Pacquiao start?
Everton 3 Manchester United 0 player ratings: Who scored lower - Marouane Fellaini or Radamel Falcao?
Floyd Mayweather vs Manny Pacquiao: What time does it start and where can I watch it?
- 2 Migrant crisis: Greek soldier saved 20 people singlehandedly off Rhodes beach
- 3 Sofyen Belamouadden murder: The inside story of a crime that horrified Britain
- 4 Company breaks open Apple Watch to discover what it says is 'planned obsolescence'
- 5 Ian Brady: Moors murderer announces his support for Ukip and the SNP
General Election 2015: Chuka Umunna on the benefits of immigration, humility – and his leader Ed Miliband
The sickening truth about food banks that the Tories don't want you to know
Migrant boat disaster: Ukip candidate mocks victims in sickening Twitter post
Nigel Farage wants the BBC to stop making programmes like Doctor Who, Strictly Come Dancing, and Top Gear
Global warming: Scientists say temperatures could rise by 6C by 2100 and call for action ahead of UN meeting in Paris
General Election 2015: Britain would become a 'communist dictatorship' under Ed Miliband and Nicola Sturgeon, claims wife of Michael Gove