Date: 14th October 2019 at 5:30pm
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Joseph DaGrosa’s US investment firm GACP Sports have made progress in their potential bid to buy Newcastle United from Mike Ashley, according to the Shields Gazette.

The newspaper claims that three new companies have been set up across the globe – in the USA, Cayman Islands and Jersey – with the view to a possible takeover at St James’ Park.

It is understood that the next step would be to set up ‘Newcastle Acquisition Partners Ltd’ in the UK, but that company is yet to be registered on Companies House.

The Shields Gazette has previously reported that GACP and Peter Kenyon have proposed a deal worth a total of £300million to Ashley as they aim to buy the Premier League club and it would seem as though these steps show firm progress in their bid.

OPINION

Newcastle fans do not need to be told to approach this with caution – it would be fair to say that the majority probably do not believe a word of it. The Toon Army have been through a rollercoaster ride in the last few years as they have seen interested parties come and go with no huge progress being made in efforts to buy the club from Ashley. So why should they believe this? There are reasons why fans should be pleased because at least it’s a local newspaper that is reporting the developments, rather than a radio show host in the Middle East or a hard-to-trust national newspaper. It also seems as though things are progressing at a much slower pace, which suggests that while there is interest, there is still a long way to go before anything concrete happens. With the Bin Zayed Group in the summer, the first we heard of that story was when papers had been submitted to the Premier League, yet that turned out not to be the case. These reports seem more grounded, more believable. But good luck saying that to a Newcastle fan.