Singapore Profitable Group Bid Could Now Be Official


It’s on again off again – and maybe on again – that’s the bid from the Profitable Group.

steve-mcmahon.jpg

Steve McMahon – next Chairman of Newcastle? – hope so

After all the news yesterday about the Profitable Group and all the great things they had planned for our club, Derek Llambias (wary that this may be some good news for fans and anxious therefore to play it down) slammed the report and said it was nonsense.

But it looks like they have not been talking with Derek but with Seymour Price as a spokesman told the Evening Chronicle today:

“We’re working with Seymour Pierce and in discussions with the people that Mike Ashley has appointed to sell his club.”

“We don’t expect to be dealing with the Managing Director too much.”

It now looks like the Profitable Group may have been a day early and indeed the Evening Chronicle, Lee Ryder and Adam Jupp could still be right on the mark, when they reported the news yesterday.

Obviously the news was received well by Newcastle fans – as it seemed a dream come true.

It seems the Singapore Group has now registered a formal request to Seymour Price and Keith Harris today – only a day after the news broke.

It seems that several parties have contacted the investment bank, whose chairman Keith Harris, who has a fantastic track record in selling football clubs, has again been handed the job of finding a good buyer at owner Mike Ashley’s knockdown price of £100M.

However, there has again been no official statement form the Profitable Group’s Singapore offices today, and we have to hope this is indeed true, and yesterday they had said they hoped to say more in a couple of days.

But apparently Profitable Group have let it be known, behind then scenes,  they are serious bidders and the Evening Chronicle reported their plans yesterday – which seemed to match the dreams of many dedicated and currently very frustrated and rather disillusioned Newcastle fans.

Steve McMahon is the Group Commercial Director at Profitable, and Steve has often waxed lyrical about what he considers to be a great club – yes he’s talking about Newcastle. 😀

There must now be four serious bidders in for Newcastle right now, but we think the process has still a long way to go, unfortunately, and we are getting increasingly concerned the delay will seriously impact the club’s crucial preparations for next season.

We could well lose 22 year-old star Seb Bassong and other players that Alan Shearer sees as key to the club.

It is though that Alan wants to form a new team and the resulting passion and team spirit around Steven Harper, Steven Taylor, Habib Beye, Nicky Butt and perhaps Seb Bassong – if he can manage to keep him on Tyneside with Arsenal and Tottenham now hot on his trail.

In Seb’s statement from a close source today, he was obviously committed as anybody at the club last season, and he’s exactly the type of lad we want to keep, and there’s even a good chance Alan could persuade him to stay, but we have to get ourselves sorted out quickly.

Unfortunately that seems a million miles away right now – but it’s clear Bassong is a big admirer of Shearer, both the man and the coach.

The Newcastle price of £100M is an absolute bargain, given that good owners with a sensible plan and some money to invest in players, could well have the team back in the Premier League within a couple of years, and the price would at least double.

We still don’t know why Ashley is selling at the worst possible time for the club, even for himself, but its consistent with the other ridiculous decisions he’s made while on Tyneside.

So it seems a great investment opportunity and if only we had say £200M  we would be in there like a shot – and would mirror the Profitable Group’s plans.

But that’s what comes of not being a multi-millionaire – oh well – we’ve still got this blog – dedicated to the  Newcastle club and to its fantastic fans – the best in the land.

And of course we’ll use the power of the pen to assist Newcastle United in becoming great again – that’s our number one goal and ambition – to be sure!

Comments welcome.



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144 comments so far

  • iffy

    Jun 10, 2009 at 4:30 PM

    Comment #1

    Any chairman will be better than mike ashley

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  • ChrisToon1988

    Jun 10, 2009 at 4:32 PM

    Comment #2

    Respect 😛

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  • batty

    Jun 10, 2009 at 4:39 PM

    Comment #3

    ED it dusent matter what leauge we are in m8 we are a big club and thats why so many supporters of other clubs are laughing m8

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  • Pedro

    Jun 10, 2009 at 4:43 PM

    Comment #4

    its sad that a ‘confirmed’ bid, just a bid! from these guys would be the best news we’ve heard in ages.

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  • Waddles mullet

    Jun 10, 2009 at 4:52 PM

    Comment #5

    The Profitable Group can confirm that it has expressed an initial interest in acquiring Newcastle United. A preliminary discussion with the representatives appointed to handle the sale of the club has been held but contrary to some reports no direct talks have been held with either the Owner, Mike Ashley, or the Chairman, Derek Lambias.

    The Group consider the leaking of The Group’s interest in this matter unfortunate, and as supporters of Newcastle United seek only to serve in the best interests of the cluib, the fans and the local community.

    The Group will not be making any further comment at the present time.

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  • Nick 69

    Jun 10, 2009 at 4:55 PM

    Comment #6

    im sick of hearing the people are ‘interested’ in us, these lot, the oman consoritum are still ‘interested’ aswell as others, thats all we ever seem to get, interest, never anything more concrete. as far as im concerened, if your interested make your move otherwise stop wastin our time!

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  • HalftimeBovril

    Jun 10, 2009 at 5:02 PM

    Comment #7

    I know what your saying Nick69

    Its like when you were at school, all the girls thought you were cute! but you could never get a date with them.

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  • LATINAMERICATOON

    Jun 10, 2009 at 5:03 PM

    Comment #8

    Being in business myself, I can say that if you aproach any buyer to sell your company or club and you fix a sale price but then give them the nice surprise that all the money you put in the club will become their debt ontop of what they pay you, it kinda scares buyers away to say the least. So dont be fooled what ashley has invested he is looking to get back and add to that 100 m net profit on top. This is one of the reasons he couldnt sell in october last year.

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  • bowburnmag

    Jun 10, 2009 at 5:07 PM

    Comment #9

    HalftimeBovril – that’s the saddest thing I’ve read in ages. Big aaaahhh goes out HB…

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  • waddler

    Jun 10, 2009 at 5:08 PM

    Comment #10

    Harris wants the best for the club NOT Ashley, he will make the decision NOT Ashley as long as the £100 million is on the table and the payment is immediate rather than in instalments.
    If this package is rejected it should only be because a better offer for the club/supporters is on the table.
    Lets not forget Harris sees us as a huge club with the fourth largest attendances in the country and he wants us back up there.
    So how about 60,000 lads.

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  • Nick 69

    Jun 10, 2009 at 5:08 PM

    Comment #11

    latinamerican- he isnt, hes already said numerous times, the 100mil price tag is ‘all in’, he is willing to take the loss of 100+mil that he has put into the club therefore the club hav no debt to ashley when he takes over!

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  • HalftimeBovril

    Jun 10, 2009 at 5:09 PM

    Comment #12

    lol

    Not saying it was me bbm, it was all my mates 😉

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  • sirjasontoon

    Jun 10, 2009 at 5:10 PM

    Comment #13

    HB You brought a tear to my Eye 🙂

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  • bowburnmag

    Jun 10, 2009 at 5:10 PM

    Comment #14

    Nick 69 – since when did Big Mike stick to his word though?

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  • sirjasontoon

    Jun 10, 2009 at 5:10 PM

    Comment #15

    HB 🙂

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  • bowburnmag

    Jun 10, 2009 at 5:11 PM

    Comment #16

    Ahhhhhhhh reet, gotcha HB 😉

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  • Nick 69

    Jun 10, 2009 at 5:11 PM

    Comment #17

    david craig on ssn now saying that the club say there are 2 groups leading the race to buy us, and neither of these 2 groups have been mentioned in the media whatsoever and are keeping it all in house!

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  • LATINAMERICATOON

    Jun 10, 2009 at 5:12 PM

    Comment #18

    ok nick, thanks for the info. that gives me more hope on the sale

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  • sirjasontoon

    Jun 10, 2009 at 5:13 PM

    Comment #19

    Ashley Never has been truthful Bowburn All lies and spin.
    My favourite was when he said “onwards together”after taking the club off the market.

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  • Nick 69

    Jun 10, 2009 at 5:13 PM

    Comment #20

    bowburn- yeah i agree, but i think he now realises that if he tries to get back his 100+million loan, ther will be no buyer for the club and hell be stuck with it, and he cannot afford it. well thats what im hoping anyway!

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  • LATINAMERICATOON

    Jun 10, 2009 at 5:15 PM

    Comment #21

    I think you are right as keith harris wouldnt take on an impossible sale and try and flog something that will be damaging for his reputation with his clients. however, how keith must feel about ashley putting offers on the official site, only God knows.

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  • Nick 69

    Jun 10, 2009 at 5:17 PM

    Comment #22

    i really would like to know who these 2 groups are now, that are leading the chase for us, never been mentioned at all in the media so i really have no clue!

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  • flyingmag

    Jun 10, 2009 at 5:20 PM

    Comment #23

    One is in the US and one in the middle east both parties have to ashley not to put anyone in as manager as they will do it.

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  • newcastle29

    Jun 10, 2009 at 5:21 PM

    Comment #24

    fat freddy!!! you just watch.

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  • thedon1987

    Jun 10, 2009 at 5:23 PM

    Comment #25

    its official!!!!!!!!!!!!!!!!

    Its on the Profitable Group website. when you go on the website, look on the left hand side on the news section.

    they claim to have held discussions, so we will see what happens!!!!!!!!!

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  • newcastle29

    Jun 10, 2009 at 5:24 PM

    Comment #26

    flyingmag.

    where did you get that from?

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  • sirjasontoon

    Jun 10, 2009 at 5:24 PM

    Comment #27

    Fat Fred Rides again…this time on the back of a Camel round the Toon 🙂

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  • thedon1987

    Jun 10, 2009 at 5:25 PM

    Comment #28

    This is the article

    Newcastle United

    The Profitable Group can confirm that it has expressed an initial interest in acquiring Newcastle United. A preliminary discussion with the representatives appointed to handle the sale of the club has been held but contrary to some reports no direct talks have been held with either the Owner, Mike Ashley, or the Chairman, Derek Lambias.

    The Group consider the leaking of The Group’s interest in this matter unfortunate, and as supporters of Newcastle United seek only to serve in the best interests of the cluib, the fans and the local community.

    The Group will not be making any further comment at the present time.

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  • Stuart79

    Jun 10, 2009 at 5:25 PM

    Comment #29

    David Craig has just said that the 3/4 people thei talking to have said to Ashley we’ll talk to you about the price but we’ll do the hiring and firing so don’t appoint a manager.

    I can understand why Shearer hasn’t been appointed and I think Shearer would understand too.

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  • sirjasontoon

    Jun 10, 2009 at 5:29 PM

    Comment #30

    Shearer needs to forget about management for the time being..we are still big enough to attract someone with good experience…this is such a critical season I fear under Shearer it will be a disaster and he would be sacked by xmas.

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  • AndyT

    Jun 10, 2009 at 5:31 PM

    Comment #31

    Why would ANY prospective owners not want Shearer in charge right now?! It doesn’t make any sense! You’re not going to be able to get in anybody that’s better suited to the job. Any new manager would have to spend a whole week with the squad in the first place just to know who needs to leave and all that! Ridiculous. I hope those 3/4 don’t get a good bid in because they’re obviously morons and know nothing about the club!

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  • sirjasontoon

    Jun 10, 2009 at 5:32 PM

    Comment #32

    I just hope JK doesn’t come back..love the bloke to bits,proper character,just not a good manager unfortunately…I would like him involved at the club in some capacity though.

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  • sirjasontoon

    Jun 10, 2009 at 5:33 PM

    Comment #33

    Andy we are dropping like a lead balloon-Shearer has no management experience.

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  • flyingmag

    Jun 10, 2009 at 5:38 PM

    Comment #34

    shearer as manager after the last 2 clueless games shows you dont watch football andy

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  • HalftimeBovril

    Jun 10, 2009 at 5:39 PM

    Comment #35

    To be fair Andy

    Anybody who watched just a single game last season could tell who needs to go or stay.

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  • toonluvva

    Jun 10, 2009 at 5:40 PM

    Comment #36

    Whilst it’s great news that there are a number of potential bidders, whats the betting MA makes a total mess of things. Again. Remember the last time he tried to sell the Toon to some Arab consortium and turned an alleged offer of £300m!
    Allegedly he spent the time in the bar. Such good business.
    I hope he doesn’t try any funny stuff this time. If he scares off potential buyers this time I’m worried that there might not be a next time.
    Get it sorted!!!

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  • Rangerman

    Jun 10, 2009 at 5:40 PM

    Comment #37

    Any group interested in buying us must surely know that if Ashley was to give Shearer the job then they wouldn’t be able to come in and sack him.

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  • toonsy

    Jun 10, 2009 at 5:43 PM

    Comment #38

    We could do with an official bid soon. One of the more obscure reasons i believe is that once a bid has been made official, and the process starts, i was under the impression a transfer embargo was put in place restricting the sale/purchase of players? Thats one way we could keep hold of the players we want and sort through the dross to get rid of. Also, that may be why there are reports of deals being “all but signed” as someone, somewhere has known all along that this would happen? Just a thought…..

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  • Stuart79

    Jun 10, 2009 at 5:44 PM

    Comment #39

    Rangerman // Jun 10, 2009 at 5:40 PM

    Any group interested in buying us must surely know that if Ashley was to give Shearer the job then they wouldn’t be able to come in and sack him.

    And it would cost them about £10m to sack him!

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  • G 2

    Jun 10, 2009 at 5:45 PM

    Comment #40

    Sort the pop uos out Ed!!!!!!!!!!

    Don’t appoint Shearer either, he wont get us promoted.

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