Former Newcastle United chairman Freddy Shepherd is reportedly closing in on a deal for Real Mallorca, with sources claiming he is ready to offer €21 million for the Primera Liga outfit.

Shepherd’s interest in the club was said to have been revived when fellow Englishman Paul Davidson’s takeover was aborted.

Now Shepherd’s lawyers are reported to have contacted Mallorca president Vicente Grande with a renewed offer, after his original €15 million bid in July was rejected, and hope to conclude a deal by the end of December to ensure funds are in place for new signings during the January transfer window.

Shepherd may face competition for control of the club, with an Arab consortium also understood to be interested, and Grande said to be open to alternative suitors.

“We now need to begin the process and maybe we will receive more propositions,” Grande said.