Singapore group plans Magpies bid

• A Singapore-based group which includes former Liverpool midfielder Steve McMahon is ready to table a bid for Newcastle, BBC Sport has learned.
  
  The Profitable Group claims that it would keep Alan Shearer on as manager if successful.
  
  However, Newcastle say they are yet to be contacted by the group.
  
  Current owner Mike Ashley put the club up for sale for £100m following the Magpies relegation from the Premier League last season.
  
  Keith Harris, chairman of investment bank Seymour Pierce, has been appointed to broker a deal, which he expects to be completed by the end of June.
  
  He said on Monday that he had already been in contact with "two or three" interested parties.
  
  The Profitable Group, for whom McMahon is commercial director, is the first company to declare its interest in public.
  
  According to its official website, the group "exists to increase the wealth of its clients, its employees and its owners, through the provision of strategically selected investment opportunities."
  
  Time is of the essence for Newcastle, who remain without a manager as they prepare for life in the Championship.
  
  Shearer, who took charge of the Magpies on a temporary basis at the end of last season, has presented his future plans to Ashley, but the owner is unwilling to appoint a full-time manager because prospective buyers are likely to want to make their own appointment.
  
  Season ticket-holders are due to receive their renewal notices this week, but many may be unwilling to commit themselves as long as the unpopular Ashley remains owner and fans favourite Shearer is not guaranteed a job.
  
  Source: BBC