Newcastle United takeover bid confirmed

The Singapore-based Profitable Group has once again confirmed its interest in taking over fallen giants Newcastle United.

The club, a mainstay in the Premier League since its second season, was relegated to the second tier of English soccer in May, and has had a US$150 million price tag placed on it by owner Mike Ashley.

"The Profitable Group can confirm that it has expressed an initial interest in acquiring Newcastle United," read the statement. "A preliminary discussion with the representatives appointed to handle the sale of the club has been held but contrary to some reports no direct talks have been held with either the owner, Mike Ashley, or the chairman, Derek Llambias. The group consider the leaking of the group’s interest in this matter unfortunate, and as supporters of Newcastle United seek only to serve in the best interests of the club, the fans and the local community. The group will not be making any further comment at the present time."