SINGAPORE, June 10 (Reuters) - The investment group linked to a
multi-million pound takeover of English club 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 on
Wednesday.
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 100 million pounds ($160.9 million) [ID:nSP490692].
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 have 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.
