Newcastle takeover by Mexican consortium led by Alejandro Irarragorri on cards despite Mike Ashley talks breaking down
NEWCASTLE could reportedly still be bought by a Mexican consortium despite talks breaking down last month.
The Orlegi Sports group – led by multi-millionaire Alejandro Irarragorri – spoke to Mike Ashley but the move was scuppered amid reports that “rude” Mike Ashley made a deal unworkable.
But The Athletic claims the businessmen are still hopeful of buying the Magpies from their unpopular owner – who wants £300million for the club.
The report clams an offer from Orlegi Sports group is with their mergers and acquisitions department and they are confident a deal can be struck.
Orlegi are led by multi-millionaire Irarragorri and director of football Jose Riestra and have plenty of contacts in the football world.
They also looked at Crystal Palace before deciding on Newcastle after watching the film Goal!
Irarragorri, 48, has grown his business into one of the biggest in South America.
He started in Mexico City and is currently believed to be worth £400million.
Irarragorri built his fortune on distributing metals and fertilizers.
He then founded Orlegi Sports in 2013 and they have successfully bought a string of sports clubs.
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They initially bought top flight Mexican football side Club Santos Laguna. They also have interests in Mexican sides Atlas and TM Futbol.
The group are keen to move into Europe and see Newcastle as a prime opportunity.
Irarragorri spoke to Leaders in Sport about his business philosophy early this year.
“We’re heavily invested into sports,” said Irarragorri.
“We own two clubs now. Santos, the current Mexican champions, and then, in the second division, we’re trying to create value for another club.
“We’re doing the same process we did with Santos 12 years ago to create value for the community and to create a self-sustainable operation for the club.
“The way we look at it is that it (football) is probably not the most profitable business that we run, but when you (look at) the value you create for the community, then it becomes a profitable business in every sense of the word.”
Irarragorri spoke about a failed move for an unnamed Premier League club last month.
“We were completely looking towards Europe,” he said.
“Last year, we were very close to achieving a purchase in the Premier League. Our group was not of sufficient size to proceed with that purchase.”
Toon fans are desperate for new ownership after watching their side struggle with a lack of investment under Ashley.
The loss of Rafa Benitez over a refusal to sign loan star Salomon Rondon to a permanent deal this summer left a bitter taste.
Steve Bruce took over and has Newcastle 13th after 12 games – seven points clear of relegation.
But his side have scored just 11 goals and supporters are not pleased with the style of football on show.
Last month, Ashley admitted Toon’s main aim was to stay up this season – highlighting a lack of ambition.
Signing off the accounts on October 24, he wrote: “The club will have challenges to face as it looks to remain in the Premier League subsequent to the 2019-20 season.”
The businessman’s refusal to budge on his £300million asking price has so far put off every potential investor.