Kenyon takes ‘big step’ towards Newcastle takeover

Image for Kenyon takes ‘big step’ towards Newcastle takeover

GACP Sports Limited and Peter Kenyon have taken a “big step” towards completing a takeover at Newcastle United after two new companies were formed in the USA last week, according to the Shields Gazette.

The newspaper claims that the companies have been formed with the intention to buy Mike Ashley out of St James’ Park and although it does not mean a deal is close, it does mean that Kenyon and his associates are moving forward in their bid.

It is understood that GACP, owned by US billionaire Joseph DaGrosa, and Kenyon have made an offer to Ashley worth £175million, with a further £125million to be paid over three years. A total sum worth £300million.


It remains to be seen if Ashley will accept that offer but with Newcastle in a dangerous position in the Premier League relegation zone, it could be an offer that will twist his arm. Newcastle are serious relegation contenders this season. They are 19th in the league and would be bottom if Watford did not have a seriously awful start of their own. Steve Bruce’s leadership has been called into question, summer signings are yet to fully deliver and the anger among supporters is at an all-time high. If Ashley is going to sell, between now and the winter would probably be a good time to do it. If results on the pitch improve then he’s unlikely to be interested in what has been proposed to him by Kenyon and GACP. However if they continue to stay as bad as they are – and that seems very much a possibility – then that offer totalling £300million could interest the Sports Direct tycoon.

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