The reliable George Caulkin has confirmed that Peter Kenyon is now in ‘advanced talks’ to buy the club from Mike Ashley – however he believes time is ‘running out’ for a deal to be completed in time for the January transfer window.
Whilst there was nothing said in his latest story in the Times to suggest his interest isn’t genuine, this is a timely reminder that there is still some work to be done as far as this deal goes – with time clearly an issue.
Here’s a snippet from his latest piece for the Times – with him stating that a takeover could be tough to complete before January given these deals usually take ‘6-8 weeks to finalise’:
Peter Kenyon, the former Manchester United and Chelsea director, is heading the consortium that is in advanced talks to buy Newcastle United but time is running out for a deal to be completed before the start of the transfer window.
Sources have told The Times that Kenyon and his investors are the party that Mike Ashley, the Newcastle United owner, was referring to when he used a television interview on Monday night to say that talks to sell the club “are at a more progressed stage than they have ever been”.
Kenyon, who served as chief executive at Old Trafford and Stamford Bridge and has more recently been advising Middlesbrough, has been attempting to raise funds in the United States. It is understood that he has now been granted access to Newcastle’s detailed accounts.
Ashley’s hope that, after 11 contentious years at St James’ Park, he may be able to step aside “before the January transfer window” appears optimistic, however, with takeovers of this nature typically taking six to eight weeks to finalise.
January is regarded as pivotal to potential buyers because, aside from changing the manager, it is the one area where immediate change can be brought to a club. Without that — and with Rafa Benítez’s team in the bottom half of the Premier League — a deal becomes less attractive given that Newcastle’s value would plummet in the event of relegation.
Things may be progressing and there may be optimism that a deal can be done, but it seems like Kenyon is facing a race against time to get the deal done – especially when the January transfer window is KEY for any incoming owner.
As Caulkin states above, a new owners ability to influence our second half of the season is deemed to be ‘pivotal’, with any buyer running the risk of relegation if they are not able to invest and improve our chances of survival.
The clock’s ticking, so let’s hope a deal can be signed off in time!
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