Good News – Profitable Group Have Huge Plans For Newcastle


There could be some good news (yes – that is not another typo) being reported in the Evening Chronicle today, as Newcastle owner Mike Ashley is in talks with the Singapore-based company, Profitable Group.

alan-shearer-dowie

Alan Shearer (with Dowie) – he could be smiling again soon – like the fans

The Evening Chronicle is reporting the far-east strategic global investment group are in the process of preparing a bid for the Newcastle club.

And the Profitable group have a strong Newcastle connection and also have former Liverpool and England midfield player, Steve McMahon on board as Group Commercial Director.

And something Newcastle fans, down in the dumps right now with the club being made a fool of by owner Ashley and his antics, will just love to hear, they have very ambitious plans for the North East club.

These are some of the things the Profitable Group would want to do if they are successful in their bid:

  • Turn Newcastle into a trust which will give Newcastle fans a major say in club politics and draw similarities with the Barcelona model in La Liga
  • Appoint Alan Shearer as manager and then back the Newcastle icon with transfer funds to help the side get back into the Premier League asap
  • Ensure a footballing figure will be appointed at boardroom level, we suppose a rel Chairman,  to ensure the series of high profile errors of Mike Ashley are never repeated
  • Increase the capacity of St James’s Park to 60,000

A Profitable Group source told the Chronicle today from Singapore:

“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 money 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.”

That must be like music to the ears of Newcastle fans – is this a dream?   If so don’t wake me up.

The source also made it clear they see Shearer, who has been backed overwhelmingly by the Geordie fans, as their number one choice to lead the club back to self respect, after Ashley has mauled the image of the club over these last 12 months.

The source 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.”

However, the next move will be dependent on Ashley and his cronies, and that’s always bad news.   But the  talented Seymour Pierce investment banker Keith Harris, who has been entrusted to sell the club, should be able to guide Ashley to the buyer who is best for the club, as long as they can come up with the £100M figure.

The source continued::

“We are not in the business of misleading people.” “We have put a plan together and it’s one we think that the fans will be behind.”

“Newcastle is a fabulous club and we are hoping that we can reveal more in the next few days.”

This could be what we are all looking for, but Ashley has insisted the first group to offer £100M gets the club and of course we wouldn’t expect Ashley to pick the buyer who would be best for the club – that would be silly of us.

But we will have to hope we do hear more from this group in the next few days as they look to capture a proud club they seem determined to make great again.

This Profitable Group lloks very interesting indeed to us.

Let’s keep our fingers crossed.

Comments welcome.



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83 comments so far

  • AussieToon

    Jun 9, 2009 at 1:44 PM

    Comment #1

    If True – I live in Australia – I will run down the street naked screaming my love for Newcastle United!!!!

    It will be the happiest moment in my life.

    Let’s just hope its true.

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  • lesh

    Jun 9, 2009 at 1:46 PM

    Comment #2

    Sounds too good to be true eh Ed? Prayers answered for all and the idea of a Barca trust-type set up is a tremendous means of achieving fans buy-in to the project.

    They also claim not to mislead… that’ll surely be a change for us.

    No big money players…. yet!!! Good, that tell’s me it’ll be one step at a time, bet the club on an even keel and develop it.

    The only worry I’ve got and it’s nothing to do with the Profitable Group per sae, is that as Ashley’s billing the sale as fors come first served (ie 1st to meet the asking price gets the deal), then we could just end up with yet another barrow boy in the chair.

    Heaven forbid, please not another Ashley.

    Sounds good and all we can do is keep everything crossed.

    Howay tPG!!!!

    The football man on the board? Could that be the Venn who’s a former NUFC employee?

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  • lesh

    Jun 9, 2009 at 1:46 PM

    Comment #3

    AussieToon, are there no Fenwick’s windows out there?

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  • NotAGhostToon

    Jun 9, 2009 at 1:47 PM

    Comment #4

    Sounds too good to be true, and tbh i’m glad we wouldn’t be run like chelsea, that was one of the aspects of this regime I liked the youth development etc.
    On the other hand the fan side of it, if shearer disagrees with a chairman he can voice this and either walk away or come to a middle ground, however if it is a majority of fans who he loves but disagrees with, i wonder how that’ll work out?
    anyway overall, i’d be ecstatic if this happens because it would mean we can make steps towards a new team

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  • Rangerman

    Jun 9, 2009 at 1:50 PM

    Comment #5

    Wasn’t trying to get the finances under control before pushing on Ashley’s plan too?

    That’s something that won’t be achieved over night but a fire sale of the big earners will go a long way to getting it under control.

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  • Ed Harrison

    Jun 9, 2009 at 1:50 PM

    Comment #6

    If their purpose was to get fans behind their bid – they will quickly achieve that! 😀

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  • Ed Harrison

    Jun 9, 2009 at 1:53 PM

    Comment #7

    Would also help to sell season tickets – that’s for sure!

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  • dougnufc

    Jun 9, 2009 at 1:53 PM

    Comment #8

    Really hope this is true! I want this catastrophe over!!!!

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  • AussieToon

    Jun 9, 2009 at 1:58 PM

    Comment #9

    Fenwick windows lesh?

    No mate, but there will be some shocked ladies when they look out their own windows if this news is true!

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  • Dragonera

    Jun 9, 2009 at 1:58 PM

    Comment #10

    This sounds good. Sounds as though they have their heads screwed on. However, im not sure giving fans a major say is a good move. We will soon see.

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  • ObaFan2

    Jun 9, 2009 at 2:00 PM

    Comment #11

    Anyone who gets this owner out will more than likely have every Toon fan behind them oh except for the stardusts of this world!

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  • Toon Graeme

    Jun 9, 2009 at 2:02 PM

    Comment #12

    Here is hoping this can bear fruit.

    Trust me the back of ashley is the common goal here and no to mention he who never speaks!

    Feeling the sunrise of optimism – not a lot but its a start.

    Lets just hope this doesnt turn out to be a kick in the bollox!!

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  • ELFER

    Jun 9, 2009 at 2:02 PM

    Comment #13

    AussieToon: If this is true I will join you dancing in the streets here in switzerland!! 😉

    Sounds too good to be true…but after all that we’ve been through we deserve to have some luck again! Hope we can go forward again…

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  • AussieToon

    Jun 9, 2009 at 2:07 PM

    Comment #14

    Elfer – lets make it a global nude run in celebration if the news is true 😀

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  • toonarmy_72

    Jun 9, 2009 at 2:07 PM

    Comment #15

    i wait in anticipation!! but common guys this is Newcastle we are talking about, it wont run smoothly even if they do want to take over….

    Just need this resolved by end of next week, because it takes time for a takeover, and we are 3 weeks away from pre-season, no manager, no pre season games planned, no players sold or bought…

    Like Alan Shearer said, every day that goes by and progress is not made is another room burning.. Carry on much longer, we will be ground sharing with those puppets Sunderland….. St James Park will be ashes of burning dreams……

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  • cicero

    Jun 9, 2009 at 2:08 PM

    Comment #16

    What’s the betting Ashley screws this up too and they go and buy West Ham from the Icelandic bank.

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  • Mag 48

    Jun 9, 2009 at 2:08 PM

    Comment #17

    I seem to remember this group being in the frame last year? If true there is one big hitch between them and a deal ASHLEY

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  • Spoonman

    Jun 9, 2009 at 2:11 PM

    Comment #18

    We will see several stories such as this in the coming weeks.

    Bear that in mind.

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  • Mag 48

    Jun 9, 2009 at 2:11 PM

    Comment #19

    Won’t be doing it in Fewicks window or here in Warwickshire I’m too bloody old!!

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  • cicero

    Jun 9, 2009 at 2:11 PM

    Comment #20

    I wonder how serious they were last year when Ashley put it up for sale; can’t remember if any interested groups looked at the books back then.

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  • AshleysWok

    Jun 9, 2009 at 2:12 PM

    Comment #21

    Guys I hate to put the dampeners on this but Profitable Group have Liverpool FC all over their website and Kenny Daglish also works for them http://www.profitablegroup.com/division-players.aspx

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  • Mag 48

    Jun 9, 2009 at 2:12 PM

    Comment #22

    Thats Fenwicks window

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  • RyanToon

    Jun 9, 2009 at 2:16 PM

    Comment #23

    this sounds real but i wouldnt be suprised if were let down again

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  • DevonMag

    Jun 9, 2009 at 2:16 PM

    Comment #24

    Please God dont let Ashley cock this up as well. Pease! They sound perfect…although Spyro I agree with you on the fans thing pal, that could prove folly…

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  • harry5450

    Jun 9, 2009 at 2:17 PM

    Comment #25

    ELFER ,AussieToon I’ll join you I’ll do in in Germany and I reckon I can get it done in Iraq

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  • toonarmy_72

    Jun 9, 2009 at 2:18 PM

    Comment #26

    Liverpool is on their website because they are playing a tournament out there…

    I find it strange that it has not made Sky Sports News or BBC? This ‘source’ can not be that strong, or it would be breaking news, or at least made a talking point….

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  • Toon Graeme

    Jun 9, 2009 at 2:18 PM

    Comment #27

    AshleysWok – it looks as though they are being the team representing Liverpool to the far east. They do not directly or indirectly own Liverpool so that puts them in the potential clear to go ahead on us.

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  • BenjiToon

    Jun 9, 2009 at 2:19 PM

    Comment #28

    Cicero – I seem to remember them denying any bids last year, although they were rumoured to be interested. I think the Chron said they were out off by the price.

    I really, really, really, really, really, really wish this could be true. (Did I stress that enough?) McMahon is a good football man. Profitable also have Dalglish and others with good footy connections on their books. Sounds from later articles that McMahon might be chairman, before the trust thing happens. But Shearer be left alone to run the team.

    What I’m not sure about is how true this really is. Ronny Gill quotes a “source” who was about to get on a plane. Journalists often ring up contacts on the off-chance, and you can bet that someone at the Chron has the number of someone connected to Profitable. They’ve made no OFFICIAL announcement, which is what happened with Man City and Portsmouth’s buyers for example.

    That said, there’s so much detail here that its a lot to have spun out of a short phone call.

    If its real, then Shearer must already know. He remains in touch with Dalglish, who is big pals with McMahon.

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  • toonarmy_72

    Jun 9, 2009 at 2:19 PM

    Comment #29

    Also Ed, can you not take that picture of MA off at the top? Its bad enough we have to talk about him, not look at him as well!!!

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  • Toon Graeme

    Jun 9, 2009 at 2:19 PM

    Comment #30

    Toonarmy72 – we aint big news anymore.

    I think they will pick up on it when they do the evening paper review. Im sure about 4 – 5 we might get 10 seconds mention – more than we will on ITV in the championship like 🙂

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  • magpie_fan

    Jun 9, 2009 at 2:20 PM

    Comment #31

    i dont know but this sounds too good to be real……i wanna be optimistic but time will tell if this story true or just another rumor……..but i hope its true.

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  • Rangerman

    Jun 9, 2009 at 2:20 PM

    Comment #32

    It’s because Liverpool are going out there for a pre season friendly I think, they are trying to help their brand in Asia but if they buy us then it will us they will be promoting.

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  • antz1uk

    Jun 9, 2009 at 2:20 PM

    Comment #33

    darren venn who is on the board of the profitable group was in fact our commercial director until march 2008!!

    this story could have legs!

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  • ObaFan2

    Jun 9, 2009 at 2:21 PM

    Comment #34

    AshleysWok , looks like they have Liverpool on tour over there but other than that I cannot see any other ties/investments in LFC.

    What I do see is their interest in property and land development and maybe that will go hand in hand with their desire to increase the stadium from 52K to 60K seater.

    Or maybe they just see the land as a good investment (full stop).

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  • distant sun

    Jun 9, 2009 at 2:21 PM

    Comment #35
  • BenjiToon

    Jun 9, 2009 at 2:23 PM

    Comment #37

    toonarmy_72 – yeah, that is a worry. But then Sky Sports have really struggled to get their stories on us right recently. Remember the transfer day debacle?

    Setanta are in freefall ’cause they’re nearly bust. And the BBC are always more cautious about putting up stories from “sources”, rather than confirmed ones.

    So, that doesn’t make it rubbish. But I would like Profitableto declare it via another route also.

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  • gotcoffee

    Jun 9, 2009 at 2:24 PM

    Comment #38

    toonarmy_72 – it was on SSN about an hour ago .. albeit they were picking up on the story from the Chronicle .. were speaking directly with Lee Ryder about the story also.

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  • Stuart79

    Jun 9, 2009 at 2:24 PM

    Comment #39

    Well it’s a first come first serve with Ashley.

    I like the line about no big name signings- YET!

    We need to build it slowly but we need to invest in the team.

    Ashley wantd to build slowly too but wanted to build a flat pack!

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  • DevonMag

    Jun 9, 2009 at 2:25 PM

    Comment #40

    Scenario I can see happening: Profitable group table a bid for NUFC of £100 mill, begin to proceed with due dillegence, statement is released that Shearer will be appointed imminently and 5 major transfer targets have already agreed to join NUFC as soon as AS is in place. Fat Freddy Sheppard and his consortium scrape together some extra cash at the last minute, offer a bid of £101 mill, MA sells instantly, with FFS foregoing due dilligence. FFS then appoints shearer but has his own list of transfer targets, including Van nistelrooy, Raul, Oliver Kahn, Juninio, David Beckham and a shocking return from obscurity in the form of Dean Windass. Consequently we miss out on all transfers excpet Deano, who is to partner the toon hero Shola Ameobi up front for our new campaign in the championship! Shearer leaves, Fat Fred makes his son manager who then proceeds to sell the entire first team in January, as well as all the reserves and youth set up, asking 11 local lads of the street if they’d like to try out playing for NUFC…
    We plummet so fast Leeds Utd are merely a blur on the way past…

    Pessimistic?

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