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Profitable withdraw Toon bid

Tuesday 28 July 2009 09:05, UK

St James' still under Ashley control
Image: St James' still under Ashley control

Profitable Group have withdrawn their interest in buying Newcastle United after being unable to provide proof of the £100m needed.

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Singapore-based group can't provide proof of funding

Profitable Group have withdrawn their interest in buying Newcastle United. The Singapore-based group had been one of the leading candidates to take over at St James' Park. But Sky Sports News understands that the group were unable to provide proof of funding of £100million needed to purchase the club. The group, whose commercial director is former England international Steve McMahon, had stated their intention to bid for the club and to appoint Alan Shearer as manager. But now the bid has fallen by the wayside, meaning a takeover before the start of the new season looks increasingly unlikely for the beleaguered North East giants.

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