Previous bidder back for another crack at Newcastle takeover

Photo by Darren Walsh/Chelsea FC via Getty Images
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British businessman Peter Kenyon, owner of American investment fund GACP Sports, is back for another attempt and purchasing Newcastle United.

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The group is attempting to put together a package of around $370 million to acquire the Premier League club from from longtime beleaguered owner Mike Ashley.

Kenyon, a former Chelsea and Manchester United chief executive, failed in a previous takeover bid last year when he and a different set of investors were unable to raise the necessary funds.

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A 46-page brochure outlining Kenyon’s plan to purchase and remake the club was leaked to journalists in the UK on Thursday. The document can be viewed in its entirety, here.

While Kenyon is hardly a newcomer to the idea of buying Newcastle, Ashley is hardly a newcomer to the idea of selling — or, rather the insistence against selling — Newcastle. In the last 24 months, three approaches, including Kenyon’s first attempt, have ultimately failed due to Ashley not securing the financial package he desires.