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Newcastle are left deeper in the mire as takeover talks collapse
28.07.09
Newcastle owner Mike Ashley's hopes of selling the stricken North East club have been thrown into fresh doubt after the Profitable Group pulled out of a possible takeover.
The Singapore-based group - fronted by former Liverpool midfielder Steve McMahon - wanted to install Alan Shearer as the club's manager and insisted funds would be made available for transfers.
But they have now withdrawn their interest, leaving Ashley desperate to find a buyer willing to meet his £100million asking price.
Newcastle - thrashed 6-1 by League One Leyton Orient last Saturday - are likely to start the campaign with caretaker boss Chris Hughton still in charge.
Reader views (4)
So the Best Fans In The World (TM) don't want him to make sure he's selling to viable buyers?
Nah, you're right, he should sell to the first bunch that tip up with £100m (and not a penny more, hopefully).
- Graeme, Hornchurch, England
I have no love for Newcastle but I have to agree. The man is the most blinding evidence yet that simply having money and being a football fan is not really the best way to run a club.
I'd go a step further and say simply having played for the club or being from near the area it's based in isn't enough reason to be a manager, but then this is Newcastle we're talking about...
- Jamie, Big Massive Huge Club. Essex.
Nobody can blame Ashley for wanting to get money back, but his conduct in dealing with the club is both bizarre and sickening.
- M Torrington, Durham
It is now becoming more obvious, in my opinion, that Ashley is out for revenge as result of the Toon fans disliking his installation of absent management in the form of Dennis Wise and co in charge of the Toon.
All we want is for him to honour his statement that he ill sell to the first group who offer £100 million.
- Willy Peel, Dunoon, Scotland
