Peter Kenyon believes that the ‘big six’s’ failed attempt of the European Super League has eliminated the “uncertainty” that could’ve caused a Saudi-backed takeover to completely collapse.
Liverpool, Man City, Man Utd, Spurs, Chelsea and Arsenal all formally withdrew from the ESL this week – only days after the competition being announced – and Kenyon believes the ‘big six’ breakaway would’ve left potential new owners thinking twice about a takeover, fearing revenues or clubs like ours could’ve halved had it gone through.
The former chief executive at Manchester United and Chelsea wanted to get involved with the club back in 2009 after he left his role at Chelsea after stating that Newcastle were ‘the last of the sleeping giants.’
Several years later, Kenyon joined up with Joseph DaGrosa and GACP Sports’ bid, but later confirmed ‘we just couldn’t quite get that over the line’ after reportedly failing to gather the funds required.
He is now part of Opta Advisors – who advise on buyouts of clubs such as Wolves and PSG – and had this to say to The Athletic’s Matt Slater when asked if he thought Newcastle’s takeover was now ‘back on’:
“Yeah because the uncertainty of…I mean people were buying into those clubs whether you’re a Championship moving to Premiership or you’re a Premiership,”
“People are not buying into those clubs for relegation or seeing that, because of what else is happening, their revenues are going to go from 100 to 50.
“They’re buying in for this aspirational, ‘I can be part of that. I can be part of the future. The future’s bright. The future’s more successful – whatever the measure of success is’.
“What this thing did is stop all that in its tracks.
“I’m pretty sure that whether it’s the sponsorship agreement, whether it was the broadcasting agreement, whether it was a bank loan or it was someone looking at buying, all that just got put on hold because people don’t invest in uncertainty.”
The Saudi backed bid is still in the middle of the arbitration process and I’m sure I join the majority of fans in saying we want this uncertainty over for good now.
Let’s hope it all ends soon with a positive outcome for Newcastle United.