One of the front runners in line to buy Newcastle United have today withdrawn their interest. The Profitable Group, represented by Steve McMahon, were alleged by some to just be drawing up publicity and any serious involvement by them was met with skepticism by supporters.

However, there are some reports that they could not prove that they had the funds to meet the asking price. Of course, McMahon denies these allegations and instead shifts the blame to Mike Ashley:

“We have put a bid in and we have had no communication, no response – nothing.”

So, where does that leave Newcastle United mere days away from the start of the new season? Without a new owner, and without a permanent manager. Just like it was yesterday. Things are not looking good.