There’s some news today about Peter Kenyon’s bid to buy Newcastle with financial backing from Rockefeller Capital Management Group.
Kenyon is said to be having a “whip-round” (so to speak) as he attempts to get enough money to buy Newcastle and meet Mike Ashley’s price.
The report is in the Sun and Kenyon is appealing to investors to back his Newcastle takeover attempt by offering at least £1M as a buy-in.
It seems that Kenyon is at least £80M short of Ashley’s asking price so presumably, he is now trying to raise that money from individual investors.
They can own part of Newcastle United although it’s not a significant share by any means if they invest only £1M.
So we can be sure now that Kenyon just doesn’t have the money Mike Ashley wants to sell the club.
That is not good news, and also, Kenyon needs to pay for the club in installments, but it’s only over the next year.
That’s not a problem, and the owner has said in the past he is willing to do that to facilitate a sale.
But you wonder how much money would be available for investment in players which is the high priority at Newcastle at the moment.
But Ashley would be very willing to sell the club to Kenyon if he can come up with the money since the owner thinks he is the best fit to take over the club in the current circumstances.
And maybe a businessman like Sir Richard Branson might help out with say £50M as a buy-in – or even more.
What’s Richard’s number – I’ll try to give him a call.
It also suggests that Ashley’s idea of pairing Peter Kenyon’s group with that of Garry Cook’s is a non-starter.
Mike Ashley can put the club up for sale as many times as he likes, but if he is not asking the market price for the club, then nobody will buy it.
That’s the ruse Ashley has used before, and it’s looking like the same thing again.
As we said, this doesn’t look promising.