Irarragorri and his Orlegi Sports group have long been linked with a bid for the Magpies, having previously entered discussions with Mike Ashley.
And the Athletic now claim that the Mexican group are ‘confident’ of striking a deal to purchase the club from Ashley – who values the club at around £350million.
The report claims that the Newcastle United owner met with the Orlegi group in October in London to discuss a potential deal and, while those talks appeared to have come to nothing, the Mexicans “remain very much in contention and have even expressed confidence over their chances” of clinching a takeover.
Indeed, they claim that the group are ‘serious bidders’, with the deal now in the hands of their acquisition team for ‘fine-tuning’ – suggested initial talks have progressed well.
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Irarragorri is believed to have spoken to prominent names in the game to gain information on Newcastle, having shunned the opportunity to purchase Crystal Palace.
The Orlegi group aren’t the only party interested in the club, however, with Peter Kenyon still harboring serious interest in the Magpies.
Kenyon and the GACP Sports group – led by Joseph DaGrosa – have put foundations in place ahead of a potential bid, with three companies registered in America ahead of a move.
However, as with Kenyon’s previous moves for the club, there are doubts over the capital at his disposal.