Llambias denies talks with The Profitable Group

Jun 10 2009 by Stuart Rayner, The Journal

NEWCASTLE United have been in talks with “three or four” parties interested in buying the club.

But the Magpies claim Singapore-based investment company The Profitable Group is not one of them.

Owner Mike Ashley officially put United on the market on Monday with a £100m valuation, inviting offers via email or by contacting investment bankers Seymour Pierce, who have been given the task of finding new owners.

Among a predictable round of hoax replies and joke emails there have already been “three or four” serious offers for the club, who were relegated to the Championship last month.

A source close to The Profitable Group yesterday claimed the company – which has former Liverpool midfielder Steve McMahon as its Group Commercial Director and ex-Magpies manager Kenny Dalglish as a consultant – was also interested. But last night United were at pains to deny claims they had spoken to Ashley and managing director Derek Llambias.

In fact, they claim their last contact with The Profitable Group was nearly a year ago.

“We know who this Profitable group are because we had some dealings with them last summer regarding some business in the Far East, but there has been no contact since,” confirmed Llambias. “We have never spoken to the Profitable Group about the sale of Newcastle United since we put the club up for sale.

“They have claimed they have met Mike and myself to discuss things and they haven’t.

“There are three or four interested parties who we are talking to but these aren’t one of them.”

The speculation regarding who will and will not be the next owners of Newcastle United is bound to persist until the matter is resolved, but a source involved in the process of finding new owners warned that most potential purchasers would prefer not to reveal their hands until the last minute.