Peter Kenyon has launched a new bid to buy Newcastle United from Mike Ashley.
Kenyon’s new American investment fund GACP Sports, which also owns French club Bordeaux, is attempting to put together a package of around £300m, paid in instalments over three years.
The former Chelsea and Manchester United chief executive attempted a takeover of Newcastle with another consortium last year but could not raise the necessary funds.
A 46-page brochure detailing their plans for the club has been sent out to potential investors.
Like anything with Newcastle, it needs to be attractive enough for Ashley to sell.
In the last two years Amanda Staveley’s PCP Partners, Dubai-based Bin Zayed Group and Kenyon have tried and failed to provide the funds Ashley is looking for to end his 12-year tenure at St James’ Park.
It is understood Ashley was looking for £350m for Newcastle last season.
Newcastle’s board have faced criticism by former manager Rafa Benitez, who cited “years of unfulfilled promises” from the club’s hierarchy when he left in the summer.
0:45 Newcastle manager Steve Bruce believes the return to fitness of Andy Carroll and Allan Saint-Maximin will improve his side’s goal threat
Steve Bruce succeeded Benitez, despite discontent from many Newcastle supporters, and has so far led the club to just one Premier League win.
Newcastle are one point outside the relegation zone and play Leicester on Sunday, live on Sky Sports Premier League.
Takeover talk ‘news to Bruce’
1:23 Newcastle manager Steve Bruce says he is waiting to see what happens with Peter Kenyon’s latest takeover attempt of the club
Bruce was asked about a potential takeover in his pre-match news conference on Friday but said he knew nothing about the development, insisting his focus is the football.
“It’s news to me,” he said. “It’s not something I can comment on. I was informed something was breaking last night.