Singapore-based Profitable Group have cooled talk of a takeover bid for Newcastle United.

Newcastle have established a new association with the company, but Profitable Group operations director John Nordmann played down the financial value of the deal.

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

"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."