Newcastle United takeover 'tyre kickers' reveal why they backed away from bid
An American investor has revealed why he opted against a bid for Newcastle United after being approached about a takeover.
Brett Johnson took over League One club Ipswich Town in a £40million deal along with Berke Bakay and Mark Detmer this month.
However, Johnson, speaking on the Price Of Football Podcast, has revealed that the trio, also co-owners of American club Phoenix Rising, had considered a move for Newcastle after being approach to “kick the tyres” on the club, which was put up for sale by Mike Ashley in late 2017.
"We've been approached, like a lot of people, to kick the tyres on Newcastle,” said Johnson.
"We thought that was compelling, but, again, I look at Newcastle, and, on a risk-reward basis ... incredible brand, but you know if you're buying it in the Premier League, you've got a lot of risk it goes down."
He added that the Premier League club was an “unbelievable brand that's probably not punching at its weight class”.
Johnson and his business partners feel they made the right move after opting against a United takeover.
"You know, we're happy for a lot of reasons that it kind of set us on a path to look at England, and ultimately get to the point where when we look all things considered, we just feel Ipswich is the right team, right brand, right culture, right market, and the right time,” said Johnson.
"So, we're really pleased, with (former Ipswich owner) Marcus Evans' support, we were able to get this to the starting line."