£300m deal proposed to Mike Ashley amid significant update in Newcastle takeover – report

GACP Sports Limited and Peter Kenyon have taken a “big step” towards completing a takeover at Newcastle United after two new companies were formed in the USA last week, according to the Shields Gazette.

The newspaper claims that the companies have been formed with the intention to buy Mike Ashley out of St James’ Park and although it does not mean a deal is close, it does mean that Kenyon and his associates are moving forward in their bid.

It is understood that GACP, owned by billionaire Joseph DaGrosa, and Kenyon have made an offer to Ashley worth £175million, with a further £125million to be paid over three years. A total sum worth £300million.

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