There was reportedly a development in the Newcastle takeover saga reboot which has made the news in the past week, with the Shields Gaazette reporting new companies set up by GACP Sports Ltd.
The Shields Gazette reported that GACP Sports – billionaire Joseph DaGrosa’s sporting investment organisation – started up GACP Newcastle Management LLP and GACP Newcastle Partners LLP, which would be used in a bid to buy Newcastle.
Peter Kenyon is fronting the ‘bid’ and would take a leading role at the club, if a successful takeover is eventually secured.
It also stated that the potential instalments to be paid are an initial £175 million, followed by two additional payments of £125m, which would total £325m, closer to Mike Ashley’s valuation of £350m.
If a bid actually materialises – which many fans, including me, are very dubious about happening – it would be interesting if Ashley would turn an amount like that down.
The business model in the potential new owners’ brochure was not particularly exciting for fans, who had hoped of a complete transformation in the summer when BZG were making noises.
But it would, at least, bring an end to the disastrous Ashley era, and be a fresh start for the club.
That said, it is a very long way off, if anything actually comes from it at all, and fans are very cynical about the prospects of the ‘bid’ and being rid of the derided Ashley.
Fans are not willing to be bitten by rumours again
Judging from the reactions to the Shields Gazette’s Newcastle reporter Miles Starforth’s tweet on the subject, fans are not inclined to get carried away by it all.
Here are a few of those responses:
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