Kenyon’s in race to take over at Toon
A CONSORTIUM led by Peter Kenyon has emerged as the front-runner to end Mike Ashley’s stormy 11-year Newcastle reign.
But the former Manchester United and Chelsea chief executive faces a race to push through a deal in time to provide Toon boss Rafa Benitez with much-needed transfer funds in January.
Kenyon heads one of up to four rival bidders believed to be ready to meet Ashley’s £300million asking price as the Sports Direct mogul finally looks ready to relinquish control at St James’ Park.
None of the would-be new owners have yet provided formal proof of funds, which is thought to be the reason behind the unexpected comments on TV from Ashley, right, this week that in effect gave all parties a ‘hurry up’ in a bid to seal the deal before the end of the next month.
After receiving financial backing from US investors, Kenyon’s group have emerged as favourites to seize power on Tyneside. They have been given access to the club’s ‘data room’ to allow them to examine the books and accounts in detail in a major development in a takeover process expected to take up to eight weeks.
If the Kenyon-led bid proves successful, the 64-year-old is expected to take over the day-to-day running of the club as chief executive, casting doubt on the future of current managing director Lee Charnley.
Benitez, whose relationship with Ashley during his two-and-a-half years at the club has been at best strained, has kept his counsel on the proposed takeover.
However, the Spaniard admits he risks sounding like a broken record with the number of times he has reiterated the need for real player investment in January after a series of disappointing transfer windows.
Newcastle made a net profit on their summer transfer dealings and Benitez has had to try to compete with a squad short on quality and quantity as he bids to follow-up last season’s top-10 finish.
Atlanta United’s Paraguay striker Miguel Almiron remains his No1 target in January, with sources in South America suggesting the Geordies are close to finalising a £15m deal for the 24-yearold. The club’s head of recruitment, Steve Nickson, is currently in the US attempting to tie up the deal.
Supporters have grown increasingly restless at the lack of progress on ending Ashley’s unpopular regime, but this latest development has been welcomed by fans who are optimistic of finally witnessing change.
After claiming to have received evidence that a takeover is finally happening following several false dawns since Ashley officially put the club up for sale more than a year ago, Newcastle fanzine True Faith has now urged the Toon Army to call off a planned boycott of Sunday’s Premier League visit by Wolves.