The Profitable Group are among a number of bidders attempting to purchase the troubled north-east outfit from owner Mike Ashley following their relegation to the Championship.

Ashley values United at £100million but while there has also been reported interest from Malaysian and American consortiums, the Magpies still remain in turmoil with no permanent manager, no activity in the transfer market and the start of the season just under three weeks away.

As such, former Liverpool player and former Perth Glory coach McMahon underlined the need for a quick sale but insisted the current situation is what attracted the company to bid in the first place.

"The mess is the attraction - that's what makes it viable. If we can clean the mess up and run it properly and run it as a business and get the contracts in hand and be realistic, there lies the issue for us and we think we can do that," he said.

"We've made an offer, we're waiting for Newcastle's response but we're hopeful, we're trying our best to make this happen.

"It's got to be in the near future, I would imagine this week would be crucial. If we don't hear anything back by the end of the week, it doesn't look hopeful.

"It needs something to happen very, very quickly for the Newcastle supporters, for the players and we're trying to make that happen.

"We can only make the offer that we believe is right, we've done our homework, our due diligence, the funds are in place and we've done our best to try and get the club.

"We've made a very serious and genuine offer, we're just hoping we hear something soon.

"We're not looking to steal the club off Mike Ashley. We've offered what we believe is the value of the club. We believe the expertise we have in marketing and the football side of it, we can make this work."

McMahon underlined funds would be in place to overhaul the squad but played down any prospect of a massive spending spree.

"There will be money available, it depends how much we acquire the club for, we've put a certain amount of money aside and if we have to up the bid for Newcastle then that leaves us less money for players," he added.

"We're not saying we're going to be a Manchester City because we're not. We want to run it as a business and whatever money is available we will give to the manager if we're successful and it's all about if we're successful in the bid."

McMahon also again reiterated they would be keen to re-appoint Alan Shearer if their bid was successful.

"We need to get the club first but we would certainly be looking to keep Alan, he would be a major draw for players to the club and for the supporters," he said..

"We understand the situation and Shearer is part of the future for Newcastle - if we acquire it."

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The club insisted they have sold almost 25,000 season tickets for the new campaign despite the club's ongoing off-the-field problems.

Speculation at the weekend suggested the Magpies had only managed to persuade around 15,000 fans to pay for the entire campaign up front.

However, the club this afternoon released a statement claiming they are nearing the 25,000 mark, and are hopeful of adding more before their Coca-Cola Championship fixtures get under way in less than three weeks' time.

The statement said: "The club can confirm that sales are now closing in on the 25,000 mark with uptake in the expanded family area particularly strong.

"Interest is continuing to grow on a daily basis and with the new season still three weeks away, we expect the number of season ticket holders to further increase."

At the height of Sir Bobby Robson's reign at St James' Park, Newcastle had around 44,000 season ticket holders, ensuring sell-out crowds at the 52,000 capacity stadium for virtually every game.

However, attendances have fallen in recent years, and the effects of relegation, coupled with the continuing uncertainty over the club's ownership and the fact that crowd favourite Shearer is still waiting to hear if he will be appointed manager, could have a significant effect this time around despite a nine per cent decrease in prices.