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Peter Kenyon intends to complete Newcastle United takeover by end of 2019 – Report

5 months ago
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Peter Kenyon is close to completing a Newcastle United takeover…that is if you believe media reports on Sunday morning.

The former Manchester United and Chelsea Chief Executive intends to complete the deal in the next two months, according to the reports.

The Mirror saying that Peter Kenyon is ‘hopeful’ of reaching a final agreement with Mike Ashley.

The newspaper reports a ‘source’ as supposedly telling them: ‘They’re hoping it’ll happen. They’re doing due diligence and they want to get the takeover done before the January transfer window, and then get some players in.’

I’m guessing that like me, you are trying to work out just how much of this is rehashing of what has been said/reported before and/or pure invention.

The idea that Peter Kenyon and friends, or indeed anybody, would pay top dollar for a football club in the middle of a relegation fight, appears ludicrous.

If you did believe they were ever in a position to complete a Newcastle United takeover, then Kenyon and GACP Sports would be relying on investors putting the vast majority of the money up. So how you would convince them it would be a great deal to buy now, when NUFC could be halved in value within months if relegated, is a mystery to me.

The Mike Ashley circus now in its 13th season and still no sign of it ending.

When talking to other Newcastle fans, it is a long time since I spoke to anyone who believes that Mike Ashley genuinely has any intention of selling Newcastle United.

The Mirror report:

Former Man Utd chief Peter Kenyon keen to broker Newcastle United takeover by end of year

Newcastle have been linked with a host of takeover bids in recent years but Kenyon is hopeful of finally reaching an agreement

Kenyon has joined forces with US-based investment group GACP Sports, whose chief is Bordeaux owner Joseph DaGrosa.

GACP are reported to have already set up several new companies to facilitate a takeover at St. James’ Park.

And a source said: “They’re hoping it’ll happen. They’re doing due diligence and they want to get the takeover done before the January transfer window, and then get some players in.”

GACP are believed to be planning a £300million buyout of retail magnate Ashley, with the deal structured over three years and with an additional £50m injected into the club on completion of a change of ownership.

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