By Tyne-Talk
August 3 2008

Mike Ashley is once again allegedly making moves to sell the club he bought for £130million last year & the most recent contender's are big foreign companies worth billions. Mumbai's Anil Ambani's Reliance Communications is said to be battling it out with Singapore's The Profitable Group. Both companies are alleged to be in advanced talks with Ashley as his team complete in the Mallorca Cup.

Anil Ambani & Reliance Communications

Anil Ambani, the man reportedly in talks with Mike Ashley over a £260million takeover ranks 6^th in the Forbes Billionaire 2008 list, an inherited fortune. His 65% stake in Reliance Communications where he is Chairman helped him earn an additional £23.8billion in the last year compared to his last year's earnings. He is 48, married with 2 children and resides in Mumbai, India, Asia and Australia. He is also Chairman of Reliance Capital and Managing Director and Chairman of Reliance Energy. He is currently at war with his brother after a long feud which is expected in court towards the end of this week to discuss a gas sales agreement. The Reliance empire was handed to Anil and his older brother Mukesh in 2002 when their father died and in 2005 Anil resigned from his role with its petrochemicals subsidiary where he was Director and Vice Chairman.

In 2007 he was charged by the police in India's Uttar Pradesh state for allegedly circulating an insulting joke about the Sikh community a charge which could potentially carry a 3 year prison sentence. The criminal case was called after the person accusing claimed the joke was being circulated on the Reliance Communications telephone network.

Anil Ambani is said to be very close to political opposition party Samajwadi party, the person making the allegations was said to be close to the ruling Bahujan Samaj party. He has also been involved with the Rajya Sabha party from 2004 - 2006, a role he could have maintained until 2010. He was elected as an Independent Member of Parliament in 2004 and resigned in 2006 citing ethics, transparency and propriety as reasons and a wish to avoid any controversy.

He was named businessman of the year in 2006.

Competition

Anil Ambani is said to be in direct competition with Singapore based global investment company Profitable Group of which former England player Steve McMahon is a director in charge of strategic sports investment as neither company want to share Newcastle United. However Ambani's RCom (Reliance communications) bid is said to be further ahead than that of Profitable Group's with legal papers potentially being lodged later in the week.

Both companies Reliance and Profitable are said to be offering £260million for the club plus £100million in funds to improve the squad.

Profitable Group Strategic Global Investment

Profitable are currently being assisted by former Newcastle Manager Kenny Dalglish on a number of new initiatives promoting football in Singapore.

Profitable Group Strategic Global Investment has a mission statement which quoted from their website reads:

"The Profitable Group exists to increase the wealth of its clients, its employees and its owners, through the provision of strategically selected products that offer exceptional returns along with risk that has been professionally assessed and minimized.

Astute investors need to find quality product suppliers who will act as their strategic partner, providing timely, transparent. targeted and truthful information. The Profitable Group is such an organization."

The company whose history dates back to the ‘80's was formed in 2004 and predominately deals in strategic land investment. Its divisions include plots, planning, people, premises, portals, pioneers, protection and products to name a few. They associate with a large number of businesses worldwide.

The group who began a 3 year sponsorship deal with sports broadcaster EPSN beginning in January 2008 also targeted Everton earlier this year.

Reliance Communications v Profitable Group - Facts

Discussion started by TyneTalk (IP Logged), 03/08/2008 17:12

TyneTalk
03/08/2008 17:12

Reliance Communications v Profitable Group - Facts

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Joe
03/08/2008 18:16

Anil Ambani please!!

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nathan robinson
04/08/2008 12:59

The Profitable Group denies it is in talks with Newcastle and does not intend to have talks with the Premier League club. (BBC Sport, 1012 BST)

Indian firm Reliance Communications have denied they are in talks about taking over Newcastle, after speculation chairman Anil Ambani was speaking to Magpies owner Mike Ashley. (Reuters, 0831 BST)

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becksa09
04/08/2008 21:35

trouble brewing again, i hope not!

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Ronaldo is a diving FAG
05/08/2008 15:22

its all rumours.

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tunyc
05/08/2008 21:21

Don't want to see the team sold to random foreign businessmen with no interest or background in football. Who knows what these clowns would want to do with the club?

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MissC
05/08/2008 21:28

Just have to look at some of the history of foreign buyers to see they have interests elsewhere.

Liverpool for example has turned into a comedy of errors

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DaraghL
11/06/2009 11:30

just looked up profitable group 3rd on google page this was

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TOONTILLIDIE
11/06/2009 12:04

Anil Ambani for me, but think the realistic option is going to be Singapore based company. Either way it is win win

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i!
11/06/2009 14:43

I'm interested in Ambani's joke that got him arrested, must've been good.


Get regular updates from one of TyneTalk's mintest posters, follow: [www.twitter.com] @adameverett92

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becksa09
11/06/2009 15:03

why 240 million?

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tunyc
11/06/2009 15:19

That's an old number, becksa. This thread dates from when Ashley first tried to sell the club.

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Andrew The Mag
11/06/2009 23:39

no news of anil ambani interested this time round is there ?

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