The Sun claim that Peter Kenyon is now appealing in a bid to raise funds to purchase the club – offering a ‘minimum buy-in of just £1million’ as he becomes ‘desperate’ to complete a takeover.
Assuming this isn’t a PR stunt, it really is starting to concern me just how little cash he and his investors seem to have – with this latest story showing real signs of desperation (if true of course).
Here’s a snippet from the Sun’s latest piece, suggesting Kenyon is now desperate to raise funds:
DESPERATE Peter Kenyon is appealing to investors to back his Newcastle takeover attempt – by offering them a minimum buy-in of just £1million.
The ex-Manchester United and Chelsea chief executive is still searching for the £300m needed to complete his purchase of the Toon.
And SunSport has learned that Kenyon is so anxious he is now doing a whip-round of anyone able to cough up a seven-figure sum.
Even then, the British businessman would only be able to pay Toon owner Mike Ashley in instalments staggered over the rest of the year.
But Kenyon is buoyed by Ashley viewing him as the “best fit” to buy the club.
And he is determined to get a deal over the line by any means possible, having spent weeks looking over Newcastle’s books and working with lawyers.
Kenyon’s struggle to meet Ashley’s asking price, however, does raise doubts about his suitability for St James’ Park.
When Ashley put Newcastle up for sale in October 2017, he claimed a new owner must have the investment necessary to take the club to the “next level”.
The last few lines are telling. If Ashley wants someone to take the club to the next level (something I find hard to believe), then why is he deeming a man who’s struggling to meet his asking price (never mind invest after any purchase) as the ‘best fit’ to buy?
I’d have Kenyon over Ashley in a heartbeat, but the fact he and his investors backing the takeover bid seem so short on cash hardly bodes well for a fruitful future under Benitez?
if this storey is to be believed then you’ve got to ask yourself that if he’s struggling to get the finances to buy the club then where I going to get the funds to strengthen the team !!!!!
tom(Quote)
The fact that it’s in the sun would suggest bullish!t, they’ve never been a friend to the truth, in fact not even close acquaintances.
ToonExile(Quote)
It all depends I suppose, on what Kenyons team intend to do with all monies coming into the club.
As opposed to Cashley forever taking any and every red cent for his own ends.
If its spent on the club once more then every pond spent is a problem halved…Bring it on.
FATBASTADOOT.
HWTL..
Peter henderson(Quote)
Everyone wishes for a rich sheik where money is no object. Personally i think all we need is someone with best intentions. The club can easily afford to buy players with the revenue it currently gets, its just that the greedy oaf takes it all for himself every year and spins his lies/bull **** through the media to say there is none available. Look at Bournemouth for example.
Trenger(Quote)
Yet more **** from the **** sun newspaper that hates the north can’t believe you’ve even put this up on your site, really??????
Geordie rob(Quote)
I’m thinking that Chelsea wanted Kenedy to get a full year of play under his belt so they could decide if he was in their future plans. Part of the deal with NUFC was an old Chelsea guy would act as a buyer so MA would have cover on why he is not spending to improve the club.
Is NUFC worth 300 million? From what we read the market says “NO!”, if what is reported is not fake news.
NUFC, and 90 other teams will have little value until there is some realistic combination of salary caps, draft and roster limits. Only then, will buyers be interested in putting their money where they can compete for trophies.
William J Powers(Quote)
Unfortunately, I think it could be close to the truth. Kenyon seems to be short on funds based on just about everything you read..
Olly Hawkins(Quote)
Weren’t NUST going through a phase where they claimed they were collecting to buy the club for the fans?
Surely they can dip into the fund and lend Kenyon a hundred mill or so?
As I’ve mentioned before, a football club is a very high risk investment and as such no fund managers worth their salt would put their clients’ money into one.
You pay 300 million for a premiership club in January and by the end of may it could be worth 30.
Brrrian(Quote)