A Singapore group are new favourites to takeover Newcastle United.

A Singapore-based investment company has emerged as the frontrunner to buy Newcastle United.

The Profitable Group - who have Steve McMahon as commercial director - reportedly intend to keep Alan Shearer on as boss.

And they have a plan to follow the model of Barcelona by making them a trust with close involvement of the fans, once the club is on a sound financial footing.

The Daily Telegraph say The Profitable Group have opened talks with Ashley and quote an insider as saying McMahon 'can offer expertise in the background', but that Shearer is the man they want at the helm.