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.

Friday, 4th October 2019, 4:00 pm
Updated Friday, 4th October 2019, 5:00 pm
Alejandro Irarragorri was linked with Newcastle United

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.

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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.”