A consortium led by Peter Kenyon are short on time to successfully takeover Newcastle United if the purchase is to be made prior to the start of the January transfer window, according to the BBC.
The broadcaster claimed that due to Premier League checks and processes when clubs change owners taking 14 days to complete then that makes a December purchase date very optimistic even if a deal is all agreed in the next few days.
The BBC report that the checks can’t start to be conducted until extensive work is done analysing the club’s financial position as well as all legal and negotiations being finished between both parties.
Magpies owner Mike Ashley previously publicly announced that he would like to get a new owner in before January.
“I’d like it to be before the January transfer window,” said the businessman, as quoted by Sky News.
OPINION
It seems Ashley’s January timeframe is problematic for Kenyon’s attempts to takeover Newcastle especially as the BBC’s report says it’s not even known whether a formal bid has even been made yet. While the broadcaster promisingly states talks are going between Kenyon’s group over talks to purchase the Magpies, the rest of the report is rather pessimistic reading. This is especially the case when it not only suggest regulatory Premier League checks will not only slow things down but the fact that the recent departure of Richard Scudamore as executive chairman last month and the fact it’s Christmas could slow things down even further. While Kenyon could eventually still successfully complete his bid to takeover Newcastle United as talks are ongoing, it seems very clear based on the all the reasons that the BBC list, that Ashley’s timeframe for a deal to be done is very problematic and unrealistic as it stands. However who knows, stranger things have happened.
