CONSORTIUM STEPS UP NEWCASTLE TAKEOVER BID

Peter Kenyon

Peter Kenyon’s attempts to buy Newcastle United Football Club could have taken a step closer after his consortium registered two new companies.

The former Manchester United and Chelsea chief has teamed-up with American firm GACP Sports – who also own Ligue 1 club Bordeaux – in an attempt to take control of Newcastle United from Mike Ashley. If successful, it is claimed that Kenyon will try and lure Jose Mourinho to St James’ Park despite Newcastle having only recently appointed Steve Bruce as manager following Rafa Benitez’s exit.


Speaking at the recent World Football Summit in Madrid, Kenyon, who is plotting a £300million takeover of Newcastle, said: “If I had to take over a great club and I needed to sign a coach, the first one I would think about would be Mourinho.”

Those comments naturally started the speculation that Mourinho could be Newcastle bound if Kenyon and GACP Sports complete a takeover.

GACP Sports insist that they have the funs to proceed with a deal, but to date, no structure has been agreed with Ashley as to how payments would be made in relation to the purchase. GACP Sports have proposed handing over £175million upfront with an additional £125million to paid over the next 3 years with interest, terms which haven’t, as yet, been accepted by the Sports Direct supremo, Ashley.

Kenyon, who is likely to be appointed chief executive of Newcastle if a takeover is agreed, had hoped to conclude the deal by September 27th but things have gone a little quiet.

As part of their attempt to gain control, GACP Sports have stated that they would hand their manager a minimum of £75million to spend on new players in their first season with £35million to £40million to be made available in each subsequent season. They have also pledged to double the £6million-a-year kit deal with Puma which expires in 2022.

GACP Newcastle Management LLP and GACP Newcastle Partners LLP have been created in America as part of the consortium’s bid to buy the club. GACP Sports owns both new businesses outright. Newcastle Acquisition Partners Ltd is expected to be registered in the UK to proceed with a takeover.

Joseph DaGrosa, a senior partner of GACP Sports and the president of Bordeaux, recently confirmed his company was looking to invest further into European football clubs.

DaGrosa said: “At the end of the day, I run a private equity company and we are always looking for good sound investments.

“Right now we are focused on European football.”

Ashley is interested in doing business but according to well placed sources, he is becoming “bored” at the lack of progress.

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