Mike Ashley's reaction to latest Newcastle United takeover move

Mike Ashley remains sceptical about the prospects of a takeover by GACP Sports.

Friday, 18th October 2019, 1:14 pm

The Florida-based investment firm, headed up by billionaire Joseph DaGrosa, is working with former Chelsea and Manchester United chief executive Peter Kenyon on a £300million takeover bid for Newcastle United.

And the Gazette revealed this week that more companies have been set up by the company, which published a 46-page brochure for prospective investors, in advance of a deal.

Ashley dismissed a previous approach from Kenyon in the summer. United’s owner said: “Peter Kenyon convinced me last Christmas that it was going to get done. I’m never doing that again. The reality is with these deals that once it gets out, if it’s not done, it’s probably not going to get done.”

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Mike Ashley and Lee Charnley.

News of Kenyon’s involvement with GACP raised hopes of a deal. However, Ashley has again privately questioned if Kenyon can raise the funds needed to buy the club.