These Groups Simply Don’t Have The Money To Buy Newcastle

There has been news over the last few days that Newcastle United owner Mike Ashley has met in London with would-be Mexican investors.

Reports of the meeting were that the investors got short shrift from Ashley probably becasue what they were offering was nowhere near what the owner values the club at – £350M.

We had reported on Monday that The Athletic’s David Ornstein reported Ashley met with a pair of unnamed Mexican businessmen.

It was to do with a takeover, but it seems the amount they were willing to offer was far too low – and some reports said that Ashley was angered at the meeting.

Mexican-based Orlegi Sports were interested in buying Newcastle in the summer, and their 48-year-old President Alejandro Irarragorri was interested in buying a club in Europe.

48-year-old Mexican Businessman Alejandro Irarragorri

He said they were close to buying a club – thought to be Newcastle – but they couldn’t come close to the price.

If the meeting was with Alejandro Irarragorri, then they just don’t have the money to buy the club, so we shouldn’t get our hopes up.

And it seems like, once again, the latest Peter Kenyon led group, with Florida based GACP Capital providing the capital, don’t have the money requested by Ashley to buy Newcastle.

We’ve seen that scenario too many times over the last couple of years.

So those two groups will not be buying Newcastle anytime soon.

We have to hope some ambitious group comes in and announces the deal when all the papers have been submitted to the Premier League for approval.

That’s the only way Newcastle will be sold, and Ashley may also have to lower his price to make that happen.

It’s not a particularly favorable position for the famous Newcastle United club to be in at the moment.

But (I’m told) things can and often do get better.

So there’s still some hope.

That’s true, isn’t it?

Comments welcome.

This article was originally posted here