GACP Sports and Joseph DaGrosa have reportedly taken another step in their proposed takeover of Newcastle United .
Working alongside former Chelsea and Manchester United chief executive Peter Kenyon, the US-based investment firm is believed to setup a fresh company out of Delaware.
Titled GACP Newcastle Investors (U.S.) the new company was formalised on October 8 and reportedly follows the establishment of GACP Newcastle Management (U.S) LLC and GACP Newcastle Partners (U.S) in the fortnight prior, according to the Shields Gazette .
In addition, the same title claims a firm called Newcastle Investors Ltd has been registered in the Cayman Islands, as the same company name has been reserved on the Isle of Jersey company register.
But what does this all mean for any prospective takeover of United?
Football Publishing Editor Mark Douglas believes this is evidence of further background work being carried out behind the scenes by GACP Capital and that hopes of brokering a deal are not dead in the water.
But before fans start expecting any imminent progress in negotiations with owner Mike Ashley , these are low cost and low risk moves and sources indicate no breakthrough has been made.
Mark said: “This shows more background work is being done by GACP Capital but, as I pointed out when the first of these firms was registered, it’s a low cost and low obligation move by the group that are working with Peter Kenyon.
"As it stands, there’s been no breakthrough in negotiations with Newcastle United - although Kenyon made confident noises a few weeks back. I’m sure fans will shrug and say ‘So what?’ but if nothing else, it does show GACP at least haven’t given up.”
