Mike Ashley is yet to receive an official takeover bid from Peter Kenyon, who is struggling to find the required funds for a deal, according to Middle Eastern outlet the National.
It was reported by Sky News last week that former Chelsea and Manchester United chief executive Kenyon was plotting a move for the Magpies.
However, the National’s report states that a source informed them that Kenyon has so far been unable to find the finances required to purchase the club.
They also claim that the takeover approach will move forward at a glacial pace while Rafael Benitez’s side continue to struggle in the Premier League.
OPINION
This is dispiriting, but unsurprising, news for Newcastle supporters. Obviously it takes time to find £300million or however much Ashley wants for the club so this was never going to be a quick deal that was easily sorted ready for the January transfer window. Instead, Kenyon must be given time to find the funds required for the deal but that’s not necessarily a bad thing. If he’s taking time to raise funds then it means he’s actually serious about buying the club, which is good news for Newcastle fans obviously. It makes sense, too, for the takeover approach to be delayed by the team’s struggles on the pitch. Benitez’s men have endured a woeful start to the season, they’re yet to win a Premier League match of course, and that doesn’t exactly scream ‘buy me!’. Kenyon wants to purchase Premier League Newcastle not Championship Newcastle, so the players need to improve on the pitch before positive things start to happen off it.
