McMahon refutes takeover talk

Singapore-based group have no interest in buying Magpies

By Chris Burton   Last updated: 7th August 2008

McMahon refutes takeover talk

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Steve McMahon has played down rumours suggesting he is part of a consortium with eyes on buying Newcastle.

The former Liverpool and England midfielder was at St James' Park on Wednesday night to watch the Magpies in pre-season action against PSV Eindhoven.

He was on Tyneside with fellow associates from the Singapore-based Profitable Group, sparking speculation that a takeover bid could be imminent.

However, McMahon insists that that the group are only looking to forge links with the Premier League side in order to help promote the club in the Far East.

History

"We are forging a commercial tie-up with the club," he told the Evening Chronicle.

"We are hoping to be a strategic partner of Newcastle United in the Far East.

"I can categorically say I am not involved in buying the club and will not become director of football.

"I would love to be. It would make good sense because there is always something happening there, but I am not.

"What we want to do is turn Newcastle into Asia's favourite club and if we were going to target any club outside of the top four, it would be Newcastle because of the history, the fan base and, like I said, there is always something happening here."

Commercial

The operations director of Profitable Group, John Nordmann, echoed McMahon's comments.

"Our job will be to increase the club's profile and get United better commercial deals," he added.

"We will do our best to make the club better but buying it, no.

"The reason we came here was because we were finalising our deal and we expected it to be completed in the next day or two, but then the stories came out.

"It is not a big deal - it wouldn't even buy you a full-back."