Forget middle men and go for Kenyon

IS NEWCASTLE United about to be turned into a get-rich-quick scheme for US investors and speculative hedge-fund tycoons?

Are you looking for a bit of risky football fun with your spare £10million? Look no further than St James’ Park for a healthy return.

That’s the gist of a 46-page brochure detailing how Peter Kenyon (inset, top) – in alliance with GACP Sport – wants to take the Tyneside club off Mike Ashley’s hands.

It’s brazen in its boasts of the financial returns available if Newcastle’s underexploited revenue streams can be doubled or tripled.

One table hints that, in five years, £10m could be turned into £26.1m if revenues can be multiplied three-fold.

There will, of course, be hefty investment management fees. And “non-player pay-roll expenses of £4.3m”.

Once chart boasts commercial revenues could be increased from £22m to £61m.

An indication of how much these fantasy football figures can be believed might be gleaned from a squad valuation that included Salomon Rondon ($17m), Kenedy ($11.4m), Antonio Barreca ($8m)... players who were on loan last season and United didn’t own.

No wonder the bi-annual emergence of takeover speculation now brings a sceptical reaction on Tyneside.

GACP Sport already own Bordeaux and Kenyon, as a former Manchester United and Chelsea chief exec, is the most credible interested party for a year.

But difficult questions need to be asked if they ever raise the £125m downpayment, or the extra £175m needed to pay Ashley (below) over three years.

How much cash will be taken out of the club to give investors a return?

Will cash generated by the club be used to buy it from Ashley, a trick used in other deals?

And one big question for Ashley to ponder: If Kenyon thinks he can make the club grow in value, and finish seventh, like the brochure says, why not cut out the hedge-fund speculators?

Promise Kenyon a fortune in successrelated bonuses, make him chief executive tomorrow and tell him to get on with it.