No Toon Auction!

Last updated : 09 June 2009 By Footy Mad - Editor

The Magpies owner, having confirmed his asking price for the club is £100million, is unwilling to become involved in an auction.

But, by the same token, his desire to sell is such that the first party to put the money on the table will be handed the reins to end a disastrous stay of a little more than two years at St James' Park.

It is understood there have been four or five serious enquiries since Ashley's intention to sell emerged last weekend.

Sources close to the Singapore-based strategic global investment company the Profitable Group, who were linked with a move for Newcastle in September last year, have confirmed their interest in the club.

The group, whose Strategic Sports Investment wing is behind Liverpool's trip to South East Asia this summer, have former Reds and England midfielder Steve McMahon as their group commercial director, and would install Alan Shearer as manager.

Shearer would be given significant, if not outlandish, transfer funds with which to rebuild his squad for life in the Coca-Cola Championship.

There has been no official confirmation from the Profitable Group, although potential buyers will be required to sign non-disclosure agreements before they are provided with financial details.