It just gets stranger and stranger every day. Just days after Mike Ashley put Newcastle up for sale at GBP100 million (Yes, for GBP100 million, you can either buy Kaka and Ronaldo or Newcastle), the BBC reports Singapore-based Profitable Group are keen on buying the Magpies.
And it also goes on to say that among the directors of the Profitable Group include former Liverpool player and current ESPN Star Sports commentator, Steve McMahon. Additionally, the former Kop legend Kenny Dalglish and another ESPN commentator, Paul Maysfield, are members of the company's executive team.
The report adds the group will keep Alan Shearer if they end up taking over the club. But I wonder if McMahon and Maysfield will still remain as commentators on ESPN.
While it's good to hear that there are people who think there is still hope at Newcastle, I'm not sure the Profitable Group's investors will be too keen on an investment that will not make them any returns for quite sometime. Even if the Toon get back into the Premier League in two seasons, there's no guarantee they'll be making money. And once they're in the Premier League, they'll need to spend money acquiring good footballers just to stay afloat.
No, buying football clubs is not something you do if you want to make money.
If the deal goes through, McMahon and Maysfield will still be comentators at least for another season until Newcastle is promoted.
ReplyDeletethat's so true.. but i think Newcastle acquisition represents the best opportunity of a lifetime of acquiring a very high profile and well supported club at a good price. the short term costs is seen to be high with the drastic drop in revenues for at least the next season in the championship and if they do get promotion, spending on players that will keep them up.. it's a massive struggle but i think with their resources, it should be achievable. and i think the relegation will raise the profile of the championship at least in the short term with i expect interests in airing Newcastle matches. Whatever value a club has ultimately depend on their success on the pitch, but in Newcastle's case it seems to be an exception. I can see Arsenal and Man Utd style youth development and marketing friendly tours for the club ( and Alan Shearer marketing hair loss prevention formuleas) should Profitable succeed in the acquisition. I am really excited to see how the club emerges
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