Newcastle United-linked Mexican millionaire reveals why his Premier League takeover failed
Mexican millionaire Alejandro Irarragorri has revealed why his attempted takeover of a Premier League side – reported to be Newcastle United – failed.
Irarragorri is the president of Orlegi Sports, a Mexican firm who were linked with a bid for the Magpies earlier this summer.
And the businessman has now opened up on how he came ‘very close’ to finalising a deal for a top flight English side – which is believed to have been Newcastle United.
The Magpies are currently being eyed by Peter Kenyon and GACP Sports, who registered two new companies yesterday.
Orelgi Sports went on to purchase Mexican side Atlas, but Irarragorri – worth around $450million - admits his firm were fully focused on buying a European side over the summer months.
However, while his firm came close to a deal, the 48-year-old has now revealed that talks collapsed after realising that the group was ‘not of sufficient size’ to facilitate a Premier League buyout.
“We were completely looking towards Europe,” said Irarragorri, speaking to ESPN.
“Last year, we were very close to achieving a purchase in the Premier League.
"Our group was not of sufficient size to proceed with that purchase.
“We ended the contract with Azteca, and at that time, I went to eat with Ricardo Salinas to thank him. In that, he offers me to sell myself to the Atlas and then we understood this as a great opportunity.
“Although I am not a supporter of timeshare, I understand that timeshare is part of the process of modernisation of Mexican football.”