The Northern Echo’s Scott Wilson has revealed why Peter Kenyon is now the ‘clear front-runner’ to buy NUFC – with his group now having access to the club’s ‘data room’ to view our accounts after he received the the ‘necessary financial backing’ from US investors.
The former Manchester United Chief Executive was first linked with a takeover of Newcastle back in September and would offer real football credentials, in contrast to Ashley, if his bid was successful. We have been here before of course with the breakdown in talks with PCP Partners this time last year, but there does seem to be real momentum this week and hope a deal can finally be done.
Here’s a snippet from the Northern Echo’s piece, which also discusses the role he intends to take if his takeover bid is successful – suggesting he would take a very hands on approach as our new chief executive:
PETER KENYON is now the clear front-runner in the race to buy Newcastle United – and intends to install himself as the club’s new chief executive.
At this stage, Kenyon is closest to sealing a deal, partly thanks to his personal relationship with Ashley and partly because his group has been granted access to Newcastle United’s ‘data room’, which is the process that paves the way for a formal period of due diligence.
Kenyon, who has previously acted as an informal advisor at Middlesbrough, has spent the last couple of months working with New York-based consultancy group, Rockefeller Management, to put together a US-based consortium with the funds to both buy out Ashley and take Newcastle forward.
A source close to the former Manchester United and Chelsea chief executive claims he made a major breakthrough in terms of securing the necessary financial backing three weeks ago, hence the sudden escalation in his discussions with Ashley.
Ashley is keen for a deal to be completed before the end of the year, and his impromptu television comments on Monday were an attempt to drive the takeover process forward.
Kenyon is aware of competing interest, and the next two weeks are likely to be crucial to his hopes of securing a return to English football.
If his bid is accepted, he will take over the day-to-day running of Newcastle as chief executive, placing a huge question mark over the future of the club’s current managing director, Lee Charnley.
We don’t know how accurate the reports are of multiple bidders and who each interested party are for definite, but someone of Kenyon’s standing in the game would be fantastic for Newcastle. He is well respected, know’s the game inside out and has an established network of contacts. We would have an elite football executive fronting up NUFC, where the sky would really be the limit for us after 11 years of misery under the current regime.
Like all Newcastle fans, I remain cynical with any comments from Mike Ashley. However, meeting the asking price seemed to be the stumbling block with PCP but that doesn’t seem to be an issue this time round, with multiple parties set to cough up the £300m Ashley wants. You get the sense that it has to happen now or not at all this season, as the squad needs investment to stay up. Without that, the value of the club could plummet if we don’t stay up. The January transfer window will soon be here and clear progress needed by then.
Do you think takeover talk is another smokescreen or has genuine substance this time?