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Archive for tag: The Profitable Group.

Latest buy-out rumours “not true” says Llambias.

September 11th, 2009 | 8 Comments |

Rumours "not true"
Rumours "not true"
According to The Chronicle, they were contacted by one of their ‘usually reliable sources’ who said that one interested group had reached written agreement about buying the club and ‘other sources’ close to Sheard’s American bidders said that the deal is close to crossing the finishing line.

Both Derek Llambias and Seymour Pierce deny these rumours though, simply stating that they’re “not true”. Jonathon Brill – Ashley’s excellent PR man – just said that “talks are ongoing”.

Whilst I know the press do manage to bribe secure reliable sources sometimes, they don’t appear to have done so when it comes to anything to do with the Toon takeover situation.

The whole thing has be plagued by one unreliable rumour after another and it hasn’t been helped by the blatant publicity-seeking exhibited by some consortia under the guise of supposed bids.

My guess is that Sheard’s bid is a non-starter, just like those of The Profitable Group, Graham Roberts and Freddy Shepherd. In fact I think Moat’s bid is the only one that’s likely to be (or have been) a serious contender. (more…)


Newcastle United – News Roundup – 29 July 2009.

July 29th, 2009 | 36 Comments |

McMahon gobs off
McMahon gobs off
A lot of the papers have picked up on The Profitable Group withdrawing their interest in the club. The Telegraph quotes Steve McMahon as follows:

We have pulled out. How long can you keep hanging on?

We have put a bid in and we have had no communication, no response – nothing.

It really is poor form from Newcastle, but if that’s the way they want to run their business, good luck to them.”

There were some suggestions that The Profitable Group had not demonstrated their ability to pay the £100m that Ashley wanted, but McMahon refuted this:

That is completely inaccurate.

I just feel sorry for the supporters – they deserve much, much better. They deserve to know what is going on.

We wanted to come in and turn the club round because it clearly needs something at the minute.” (more…)


Newcastle United – News Roundup – 28 July 2009.

July 28th, 2009 | 36 Comments |

Oba fancies a move to Wolfsburg
Oba fancies a move to Wolfsburg
A few of the papers – such as The Telegraph – are going with the story that Oba Martins wants to join Wolfsburg, the Budesliga champions. Martins told the Wolfsburger Allgemeiner Zeitung (which I presume is a newspaper and not an exotic fast food outlet):

The Bundesliga is on the up and could soon become one of the best leagues in the world. Therefore I am keen on joining a side that has recently become champions of that division.

I am hoping this transfer is going to be pushed through real soon.”

I suspect Oba will be disappointed on that last issue. Nothing seems to be getting ‘pushed through real soon’ – or indeed at all – at the moment.

The article goes on to suggest that Martins will be hard pressed to get a regular place in the team given that Wolfsburg’s front two – Grafite and Dzeko – scored 53 goals between them last season. Apparently Newcastle have placed a £10m price tag on Martins. (more…)


Newcastle United – News Roundup – 21 July 2009.

July 21st, 2009 | 30 Comments |

Duff wants Shearer.
Duff wants Shearer.
Damien Duff is the latest Newcastle player to complain about the drawn out takeover process and he called for Alan Shearer to be made manager while doing so. According to The Guardian he said:

For me it definitely has to be Alan Shearer. The eight weeks I had with him I enjoyed them thoroughly. It was unfortunate we didn’t stay up but it was the most enjoyable eight weeks I’ve had [at Newcastle]. The training was great and there was proper professionalism. I think discipline was lacking over the last three years but he came in and changed things. Anyone who does come in and buy the club, he should be the main man.

Time is not on our side. There are obviously [transfer] windows to think about. There are most likely going to be big changes but the start of the season is just three weeks away so we need him in now, not in three weeks’ time or four weeks’ time.”

Shearer certainly seems the popular choice amongst the players despite most of them saying he’s strict on discipline.

The club chose to respond to claims that only 15,000 season tickets had been sold with a press release of their own that reads as follows: (more…)


Newcastle United – News Roundup – 18 July 2009

July 18th, 2009 | 37 Comments |

Profitable Group bids again
Profitable Group bids again
A lot of the papers picked up on The Profitable Group’s alleged increased bid for Newcastle United yesterday. Steve McMahon, Profitable Group director, told The Chronicle:

Our people have been in London all week working with lawyers and attorneys.

And we have made them a realistic offer.

We have been pushing ahead and, make no doubt about it, the money is in place – we are for real.

We initially made a tentative bid to begin with, and discussions then took place. We were told to come back, and that’s what we have done.

There has been a formal offer and we want to get things done and dusted as quickly as possible.

If you’re interested you can read about The Profitable Group’s history on their web site, although the only thing on their site relating to Newcastle United is from the 10th June where they confirm their initial interest in buying the club. (more…)