Magpies sale now rests on commitment of any buyers

KENYON ET AL CAN BECOME HEROES BUT IT IS NOW A RACE AGAINST TIME

PETER Kenyon could emerge as Newcastle United’s saviour if he can put together the closing stages of a deal to end the 11-year Mike Ashley era at St James’ Park. For that to happen in the timeframe Ashley wants – that is, by January – the former Manchester United and Chelsea supremo will need to get his skates on.

Those close to United will tell you the emphasis is now on the would-be buyers to get this deal agreed.

The structure of the sale is said to be relatively straightforward and has been designed so the club can be purchased in staggered payments, with Ashley said to be eager to end his tenure on Tyneside. However, the chances of this deal being pushed through before the January transfer window are now in the balance as we approach the festive period.

Not only will Ashley’s law firm soon break up for Christmas but the process in place with the Premier League means top-brass figures in English football must also sanction the sale.

There are other hoops potential new owners also have to jump through too.

The Premier League process could take a minimum of two weeks but, depending on certain factors, could go on for months before a deal is approved.

New owners must meet the Premier League board, present a 12-month business plan and prove they have the necessary resources.

The Premier League also have the power to block any potential new owner coming in who has previous criminal convictions. At this stage the Premier League are not understood to have been approached to begin checks on any new owner for Newcastle.

This suggests the parties involved are still scouring the books to see if the deal is right for them.

From Ashley’s point of view, he can only wait by his phone for guidance from international law firm Dentons, who are dealing with the sale of the club.

The Magpies’ owner will soon fly out of the UK for his annual festive break, with his words on Sky News last week more a case of what he hoped would happen rather than what definitely will happen.

None of this is helpful to Magpies’ manager Rafa Benitez, who is anxious to learn how much he will have to spend in the January transfer window. Back-to-back home defeats have increased the need for new faces but

Those close to United will tell you the emphasis is now on the would-be buyers to get this deal agreed