United takeover latest: bidder's improved offer
STEVE McMahon's Profitable Group have slapped in an improved offer for stricken Newcastle United.
And the Singapore-based company is waiting for a response from Seymour Pierce, who are handing the sale of the club.
The Gazette understands the bid – which came after several days of talks in London – is the second formal offer that the Profitable Group has made for United.
However, it is unclear whether the terms of the offer match owner Mike Ashley's 100m asking price.
Managing director Derek Llambias has previously played down the firm's interest, though sources in Singapore insist they are 100 per cent committed to buying Newcastle if the price is right.
Former Liverpool midfielder McMahon, pictured, joined the Profitable Group's board last year as commercial director, and was seen at St James's Park a year ago.
It was understood McMahon held talks with the club's hierarchy over commercial deals in the Far East.
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Weather for South Shields
Tuesday 07 February 2012
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