There are several reports this Sunday morning, that former Newcastle United chairman Freddy Shepherd, is set to launch a Â£32M bid to buy Spanish first division side Real Mallorca.
Freddy Shepherd – wants to buy Real Mallorca
Shepherd has a holiday home on the island of Mallorca, and has already been linked previously with moves to invest in a number of English clubs, including Leeds United, Bolton Wanderers and Sheffield Wednesday.
It turns out that Real Mallorca’s President, Vicenc Grande, has put his 93% of the club’s shares up for sale for 40M Euros (about Â£32M)
But Grande would prefer to sell to a Spanish buyer, and may even raise the price if he has to sell to Shepherd.
Shepherd received around Â£37M from the sale of his 29% stake in Newcastle United to Mike Ashley about a year ago, and he seems to have the money to buy the Spanish club, although not the money to fund big transfers into the club.
The 65-year-old would like to buy 100% of the shares of the club, who finished in 7th place in the Spanish league last season.
It’s interesting that Newcastle United are expected to play a tournament that will be hosted by Real Mallorca in early August, as pre-season preparation.
Shepherd and his lawyers are expected to open negotiations this coming week.