Peter Kenyon is trying to overcome a sticking point regarding his bid to take over Newcastle United, according to The Sun.
The national newspaper claim that the businessman is trying to thrash out a payment plan with Mike Ashley to complete a £300million takeover of Newcastle as the issue to the deal relates to how it’s structured.
The Sun report that Kenyon laid out his plan to pay £125m upfront then a further £175m over three years in a 46-page brochure that was produced but Ashley needs convincing about the finer details of the deal.
The Sun’s report states that American firm GACP Sports, who is part of Kenyon’s bid to purchase Newcastle, insist they have secured funds to meet Ashley’s price tag and sources insist they’re credible.
An attempt to take over Newcastle hits a snag? Surely not. There have been constant stories in recent seasons about Ashley being about to sell the club as a serious buyer has emerged, but as it stands the businessman is in charge. The Sun reported in June that the Bin Zayed Group’s £350million takeover of Newcastle was still progressing well after it was originally reported that Ashley had agreed to sell the club to them, yet despite positive news like that, it never really led anywhere concrete. So with that in mind, while The Sun report that Kenyon is confident about taking over at Newcastle, which he just may be, it’s hard for anyone else to believe that a deal is about to agreed as you feel like similar stories have emerged before and not gone anywhere. However, who knows maybe this attempt to take over Newcastle will actually lead somewhere despite it seemingly not looking in a good shape.