st james' park
The Singapore based Profitable Group led by former footballer Steve McMahon have withdrawn their offer to buy Newcastle United according to latest reports.
The Profitable Group had been one of the leading contenders to purchase the club and the withdrawal will be another big blow to owner Mike Ashley, who appears desperate to put an end to this chapter in his life.
Last week McMahon had suggested that time was running out for the consortium in their effort to buy the club. Unconfirmed reports suggest that the group was unable to show proof of funding of £100million needed to purchase the Newcastle United.
It seems very unlikely that the Magpies will find a buyer before the start of the new season, leaving the club in total disarray and the future of Alan Shearer and the playing staff unsecured.
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