http://www.chroniclelive.co.uk/north-east-news/todays-evening-chronicle/2009/06/09/singapore-group-in-talks-to-buy-newcastle-united-72703-23824385/
Singapore group in
talks to buy Newcastle United
ChronicleLive, 9 Jun 2009, by Lee Ryde
NEWCASTLE United owner Mike
Ashley is in talks with the Singapore-based company The Profitable
Group over a possible sale.
The Chronicle can reveal that the far east strategic global
investment group are currently preparing a package to bid for
£100million-rated Newcastle with Toon tycoon Ashley officially
putting the club up for sale yesterday.
The Profitable Group are
understood to have a strong Geordie connection and have
ex-Liverpool and England midfield battler Steve McMahon on board as
Group Commercial Director.
And it is understood that the group have an ambitious plan to
involve the fans at St James’s Park more than ever.
Indeed, the company’s initial blueprint, which was disclosed to the
Chronicle today from the far east, claims a successful bid would
see them:
:: Plan to turn United into a trust which will give Toon fans a
major say in club politics and draw similarities with the Barcelona
model in La Liga
:: To appoint Alan Shearer as boss and back the Geordie legend with
transfer funds to help the Magpies fight their way out of the
Championship
:: Ensure that a footballing figure will be appointed at boardroom
level to ensure the series of high profile errors of Mike Ashley
era aren’t repeated
:: To increase the capacity of St James’s Park to 60,000
A Profitable Group source told the Chronicle today from Singapore
said: "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."
The source, who spoke to us before boarding a flight to a business
meeting, made it clear Shearer, who has been backed overwhelmingly
by the Tyneside public, was their number one choice.
"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 is all dependent on the co-operation of
Ashley, Llambias and Seymour Pierce investment banker Keith Harris
who has been entrusted to sell the club.
The source added: "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."
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