Newport County is on the verge of a major takeover by 33-year-old former soldier and Welsh entrepreneur Nick Beddis, sources have told WalesOnline. Beddis, founder of AGS Capital, is understood to be close to buying out the 52 per cent shareholding currently owned by former Swansea City chief Huw Jenkins, who took control of the club in January 2024.
Deal details and regulatory approval
Sources close to negotiations claim Jenkins has agreed to sell to Beddis, with the move now awaiting approval from the Independent Football Regulator. The value of the deal is not yet known, but one source estimates it to be between £5 million and £10 million. County insiders have played down suggestions that a completed deal is imminent, but the club has made little secret of its desire to seek new investment.
Jenkins revealed at a fans' forum in December that County were hoping to bring third-party investment on board, having previously pumped £3 million into the club with seemingly little reward. Newport has largely struggled under his stewardship, narrowly avoiding relegation from League Two last season. Under Jenkins, County finished 22nd and 20th in the last two seasons.
Talks with investors and shareholding structure
Talks with several investors have taken place over the last few months, but Beddis now appears poised to take the reins completely. It is understood that the remaining shareholding, including the 27 per cent currently owned by the Supporters' Trust, will be unaffected by the prospective deal.
Beddis, 33, was actually on the books of Newport's academy as a youngster and believes the club has the potential for huge progress on and off the pitch. It remains to be seen what his exact vision is for County, but those close to the prospective deal are quietly confident the move could usher in an exciting new era for the club.
Plans for pre-season tour and transfers
A pre-season tour of Miami next month is one of the first items the new regime will potentially explore, while there is also expected to be money available to spend in the transfer market this summer.
Background of Nick Beddis
A former soldier, Beddis once served in Afghanistan. He has also served time in prison. When he was just 20, he was sentenced to six years for his role in an assault at a Halloween party in Pontypool back in 2013. He has since gone on to enjoy a strong career in Dubai real estate and private equity, eventually setting up AGS Capital, an investment platform exclusive to athletes. It now seems he has set his sights on entering the world of football ownership.
