Former Chelsea and Manchester United chief executive Peter Kenyon has stepped up his interest in buying Newcastle, as his consortium have registered two new companies over the past week.
News broke last week that Kenyon had teamed up with American company GACP Sports, the current owners of French club Bordeaux, in an attempt to launch a £300m takeover bid of the Magpies. The proposed deal stated that the consortium would pay £125m up front, with the remaining £175m coming over a three-year period.
Newcastle owner Mike Ashley is reported to be unconvinced by the structure of the payment, but Kenyon's consortium have made moves this week to prove that their interest is serious.
As reported by The Sun, GACP Newcastle Management LLP was registered last Friday, whilst GACP Newcastle Partners LLP was formed on Tuesday. The two firms were named as being part of the organisational structure of the deal when the proposed takeover document was leaked last week.
However, Newcastle Acquisition Partners Ltd., which will be the UK buying vehicle for the deal is yet to be set up by GACP Sports, suggesting that there is still work to be done before a deal can be agreed to take control of the north-east club, who currently sit 19th in the Premier League after a miserable start to the season.
Still, Joseph Garosa, a senior partner of GACP and the club president of Bordeaux has spoken about his desire to invest in another European club, signalling that buying Newcastle could become a reality.
"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," he said.
Newcastle have been on the market for some time, with a host of buyers linked to take over from the unpopular Ashley in recent years. Back in May, a flurry of reports claimed a Dubai-based consortium were poised for a big-money takeover, sparking wide-eyed interest from Newcastle fans. However, talk of that deal quickly went cold with Ashley remaining in charge for the start of the 2019/20 season.