LONDON - English Premier League club Newcastle United are the subject of a possible takeover bid from Singapore-based investment group The Profitable Group, according to press reports.

The investment group has contacted adviser Seymour Pierce to conduct the sale, the Financial Times said.

Former Liverpool midfielder Steve McMahon is on the board of Profitable, which told the Newcastle Evening Chronicle that it had spoken to Newcastle United owner Mike Ashley and was putting together a plan.

Ashley officially put the recently relegated club up for sale on Monday for 100 million pounds (S$235 million).