Ex-Chelsea chief Peter Kenyon ‘launches fresh £300m bid to buy Newcastle’

Peter Kenyon has reportedly launched a new bid to buy Newcastle United from Mike Ashley.

The former Manchester United and Chelsea chief executive failed in an attempt to purchase the Premier League club earlier this year, but the Daily Mail report that he has now submitted a fresh offer with a new consortium.

According to the publication, Kenyon has been working with Florida-based company GACP Sports – who also own French club Bordeaux – over several months to prepare a package worth £300million to take control at St James’ Park.

The Mail claims to have seen a 46-page brochure which details that the group would make an initial payment of £125m, with the remainder of the money to be paid over a three-year period.

It is claimed that Kenyon and his partners would also inject a further £50m into the club immediately after the takeover has been completed to cover the club’s operational costs.



Peter Kenyon
Peter Kenyon has reportedly launched a fresh bid to buy Newcastle

If the attempted takeover is successful, Kenyon would take up the role of chief executive officer and would work closely with GACP trio David Neithardt, Joseph DaGrosa and Hugo Varela.

All three are also involved with Bordeaux after the American company purchased the club for £66m in July last year, with DaGrosa currently president of the Ligue 1 outfit while Varela is used as a sports consultant.

The documents detailing the bid reportedly outline the buyers’ visions to help Newcastle become “one of the top 10 clubs in England” amid their belief that it is undervalued.

It also mentions the group’s plans to give full backing to current manager Steve Bruce along with intentions to appoint an experienced head of recruitment to work alongside the 58-year-old.



Mike Ashley bought Newcastle in 2007

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It is claimed that Kenyon and GACP have already submitted their offer to Ashley and the Magpies owner intends to provide a response within the next 10 days.

As part of the bid, it is reported that Ashley would earn three percent annual interest on the offered sum while his company, Sports Direct, would also maintain signage and advertising rights at St James’ Park until all payments have been completed.

Since he bought Newcastle in 2007, Ashley has had a turbulent relationship with the club’s fanbase and has been attempting to sell the club since 2017.

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