The future of Newcastle United remains uncertain after the Profitable Group withdrew their interest in buying the beleaguered North East giants.

The Singapore-based investment company had been one of the leading candidates to take over at St James' Park after former England international Steve McMahon, who was the commercial director for the group, had stated that they had made a 'realistic' offer for the club.

But Sky Sports News are reporting that a deal is now dead after the group were unable to provide proof of funding of the £100million needed to purchase the club from current owner Mike Ashley.

This comes just two weeks after McMahon had told the Evening Chronicle: "We have been pushing ahead and, make no doubt about it, the money is in place - we are for real. We certainly have the funds to go through with it."

McMahon had also stated the group's intention to appoint Alan Shearer as manager if they were to prove successful in their takeover of the club, but now that the bid has fallen by the wayside the future for the Magpies looks increasing bleak.

With an owner who wants out, no manager at the helm and half the squad eager to jump ship following the club's relegation to the Championship, the Toon Army will be aware that their beloved club is teetering on the brink of total obscurity.