Steve McMahon has confirmed the Profitable Group are in takeover talks for Newcastle United.
Even so, sources have suggested Profitable is not a major contender to buy out Mike Ashley, and question why McMahon would breach the non-disclosure agreements which were supposed to bind all would-be purchasers to secrecy, says the Guardian.
"We've had a bid in and it's under serious consideration," McMahon told Singapore's Straits Times. "It's a strategic move and will be great for Newcastle. We can turn what is a disaster at the moment into a success."