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."
------------------
More at Singapore News Alternative:
1. Lee Kuan Yew still keen to know about welfare of Chinese in Malaysia
2. Singapore group in talks to buy Newcastle United
3. Swiss Govt mulling sale of UBS stake, will GIC up stake?
4. Singapore Armed Forces buys ST Engineering's Advanced Combat Man System
5. SingTel:To Offer Apple iPhone 3G S In Singapore, Australia
6. National University of Singapore President to lead International Alliance of Research Universities
7. GlaxoSmithKlyne to make vaccine in Singapore to fight pneumonia
.