A couple weeks ago, it was reported that GACP Sports had set up two holding companies similar to the ones set up by the group when they purchased Ligue 1 club Bordeaux.
Those two companies were GACP Newcastle Management LLP established on September 27th and GACP Newcastle Partners LLP, which was established on October 1.
The Shields Gazette have discovered that the group have now set up another company named GACP Newcastle Investors (U.S.) LLC.
The third company is registered in Delaware just as the first two were. Interestingly, they are registered in the county of New Castle.
The report in the Shields Gazette links the creation of these groups to the “Summary of Investment Terms” located on page 35 of the 46-page brochure that was leaked when the Daily Mail first reported of Peter Kenyon’s renewed attempt to purchase Newcastle.
Some other companies on page 35 of the brochure are Newcastle Investors Ltd, registered in the Cayman Islands, and Newcastle Investors Ltd, on the Isle of Jersey have also been created per the report in the Shields Gazette.
If this is an actual plan and not some sort of sick ruse, then it appears to be coming together.
However, Mark Douglas of the Chronicle has issued a swift warning about the latest development:
“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.”
Ultimately, it doesn’t mean much if the Kenyon/GACP Group can’t secure the funds to meet Mike Ashley’s ransom-like bounty on Newcastle. It does give us some hope that there incremental progress is being made. However, if this all for naught, then we could do without it.