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Report – A Deal Agreed In Principle To Buy Newcastle United



The Northern Echo this morning are reporting that the Peter Kenyon led group, which includes  Rockefeller Capital Management have agreed a deal in principle to buy Newcastle for £300M.

The money for Newcastle will be paid in installments.

The Kenyon group is still in due diligence, and the bad news is that it will still take some time into January for the deal to be completed.

Peter Kenyon’s group are now reported to be the clear favorites to buy Newcastle United.

Peter Kenyon is reported to be currently proving to Mike Ashley that he indeed has the funds from backers like Rockefeller Capital Managment to buy the club.

Peter Kenyon  group – have agreed a deal in principle for Newcastle

But the bad news is that the deal could still drag well into January and then there is the question of whether Mike Ashley will financially back Rafa Benitez in the vital upcoming transfer market.

Presumably, Kenyon would want Ashley to use some of the club’s money to strengthen the squad.

But with the Premier League will still need two weeks to conduct their evaluation of the Kenyon and Rockefeller Capital Management group on whether they are fit and proper owners – time seems to be running out.

We’ll have to wait and see if Ashley supports Rafa next month.

Rafa wants four good players brought in, and with our current squad, we can still be dragged into deep relegation trouble if it is not strengthened next month.

What do you think?

Comments welcome.


147 comments so far

  • one fine day

    Dec 13, 2018 at 9:35 AM

    Comment #1

    th all this talk …instalments?
    If these buyers are supposed to have serious wealth then why the need to pay on the never never ?
    And if cash is that tight …then what’s left to inject into the club going forward as after purchasing they will need to be pumping in almost the same again over next couple of years after the way every part of the club has been stripped back neglected .
    This is starting to feel like the staverley groundhog fiasco all over again.

    10
  • BlacknWhiteBarmy

    Dec 13, 2018 at 9:41 AM

    Comment #2

    Once again the Fatmans greed returns to bite him – his £90M purchase of HoF is perhaps not as rosy as it seemed – still producing big losses.

    If you need cash Mike sell one of your assets!!!!! NUFC

    4
  • Shoulders knees

    Dec 13, 2018 at 9:41 AM

    Comment #3

    Instalments!!!
    Alarm bells ringing !!!

    7
  • BlacknWhiteBarmy

    Dec 13, 2018 at 9:42 AM

    Comment #4

    Installments – just squeezing Mikeys pips

    4
  • RonVanDam

    Dec 13, 2018 at 9:44 AM

    Comment #5

    Installments = lack of cash. How will the new owners invest in new players that’s urgently required for survival with other teams possibly strengthening in January. Will observe this quietly from the back …….

    0
  • scout

    Dec 13, 2018 at 9:47 AM

    Comment #6

    Don’t worry about instalments, most clubs pay for players this way. Infact basically all them.

    3
  • Jib

    Dec 13, 2018 at 9:47 AM

    Comment #7

    I see instalments as a positive
    To free up cash to buy players.
    It’s quite common in the retail trade so
    a new owner can get stock.
    Players are a football club’s stock

    17
  • Lovem or Hatem

    Dec 13, 2018 at 9:48 AM

    Comment #8

    Well let’s hope the take over rumors are true. Not too worried about the installments issue. Hopefully, there will be money to spend in Jan.

    My dream signings would be:

    Maxi Gomez as ST
    Giorgian de Arrascaeta as AMC

    I would imagine both of these players costing £50 million in Total

    2
  • Jib

    Dec 13, 2018 at 9:50 AM

    Comment #9

    Just because a buyer hasn’t got
    ready cash doesn’t mean that buyer
    is poor.

    6
  • lochinvar

    Dec 13, 2018 at 9:51 AM

    Comment #10

    Remember that Amanda Staveley and the PCP Group offer of £263m was turned down probably because she was managing assets rather than owning those assets.

    https://www.theguardian.com/football/2018/jan/18/newcastle-united-amanda-staveley-mike-ashley-unusual-case

    Installments might sound suspicious but this is exactly the same business model that Ashley has applied to NUFC transfers, so what’s good for the goose is good for the gander.

    Realistically and despite significant capital funds this method of purchase would leave yearly budget available for transfers so if Kenyon does the deal then its win-win-win.

    Win 1 = Ashley leaves
    Win 2 = Kenyon takes over
    Win 3 = Budget for transfers

    Hands up those with 0% interest credit cards ? Same principal. Spread the load.

    11
  • JohnJ

    Dec 13, 2018 at 9:54 AM

    Comment #11

    I hope this is true……

    I desperately want NUFC to have new owners……..

    I desperately want Ashley Out Out Out

    I just hope this does happen and ASAP but…..If it takes time that’s the way it is even if it’s not completed until after January but it would obviously be much better if a deal was done with Newcastle having time to complete signings with funds “loaned” to NUFC if need be. I hope we are finally near the end of our eleven year nightmare!

    3
  • Veltman

    Dec 13, 2018 at 9:56 AM

    Comment #12

    Good to see Jail is back and well.I was about to call his name when he rarely appeared in the last few days.One of few gents and important member of the blog since 2014 or more.

    4
  • lochinvar

    Dec 13, 2018 at 9:56 AM

    Comment #13

    EssexGB – with the christmas holidays and delivery delays I would make sure that you have some kippers frozen in the freezer just in case you now need them in a hurry. Either that or book a weekend in Craster and we can all come over and watch the kipper slapping ceremony – down by the harbour with a wee bonfire on the beach and a few cans would seem to do the trick.

    5
  • DubaiMicky

    Dec 13, 2018 at 9:57 AM

    Comment #14

    one fine day:-

    Why pay £350m up front when you can pay it in 3x yearly instalments of £120m?

    In a business, cash-flow is king.

    The rumour mill is in overdrive, allegedly another bidder has been knocked back because Kenyon has entered an exclusivity agreement.

    Who knows eh? I certainly don’t.

    8
  • hibbit

    Dec 13, 2018 at 10:02 AM

    Comment #15

    one fine day
    why pay cash if you can get interest free !!!!
    it would be a cleaver move and hopefully free up money for other things.
    IF its true

    1
  • RobLeenio

    Dec 13, 2018 at 10:03 AM

    Comment #16

    This doesn’t sound like what we’ve been told about by Online Guy and others. I would suggest that the papers have got wind that a deal is close, but they have no idea of what it constitutes and are essentially making up the details.

    We’ve been told serious wealth (doesn’t tally with paying by instalments) and happening imminently (not mid-January)

    I would have serious issues with an instalment-based payment as it leaves us open to being saddled with huge debt in the same way that the Glazers did to Man U.

    2
  • scout

    Dec 13, 2018 at 10:03 AM

    Comment #17

    People on here play too much Championship manager ffs I’m showing my age now. Anyway will there be a massive party when it’s announced I might have to get the train up as I’m living in the south now.

    It’s happening people, it’s actually happening

    3
  • ashleysmate

    Dec 13, 2018 at 10:04 AM

    Comment #18

    I don’t think there’s any need to panic if they want to pay via instalments.
    I will free up funds to buy DECENT players/improve training facilities.
    Also, I don’t think it would be the end of the world if we missed some of the transfer window as long as the club is sold within the next few weeks

    3
  • Lee Charnley Bunga Party

    Dec 13, 2018 at 10:05 AM

    Comment #19

    Installments might also mean that Sports direct still gets advertising for a set period while it is paid up?

    Installments make sense for the buyer with relegation concerns this season and to allow for money to be available for transfers In January.

    There is another tv payment due soon before the window opens guess Ashley is bumping that as well ?

    0
  • Shadow_Shearer

    Dec 13, 2018 at 10:05 AM

    Comment #20

    Sounds to me like its a done deal and the new owners have given permission to go after Almiron.

    2
  • ashleysmate

    Dec 13, 2018 at 10:06 AM

    Comment #21

    Not I will…IT will doh!

    0
  • scout

    Dec 13, 2018 at 10:06 AM

    Comment #23

    I couldn’t give two fxxxx about debt it’s not my debt. I just want to see a decent team on the pitch and win something. If that came at the cost of spiralling into oblivion, then so be it.
    I would never forget the good times and you’ll always bounce back.

    Believe

    4
  • Shadow_Shearer

    Dec 13, 2018 at 10:14 AM

    Comment #24

    Also, didn’t Almiron promise Atlanta that he will return for preseaon??

    0
  • Veltman

    Dec 13, 2018 at 10:18 AM

    Comment #25

    And where is Ibiza? Why isn’t he posting or playing? Why is he isolated?

    4
  • Shadow_Shearer

    Dec 13, 2018 at 10:28 AM

    Comment #26

    Lads, Dont worry about instalments, as long as the club is getting sold to a more ambitious owner.

    3
  • RobLeenio

    Dec 13, 2018 at 10:29 AM

    Comment #27

    Scout “I couldn’t give two fxxxx about debt it’s not my debt”

    It’s your club, though – I want to see the back of Ashley, but not at any cost. The identity of the new owner is important to me. Someone loading us with crippling debt would be just as bad as someone asset stripping the place.

    2
  • geordietom

    Dec 13, 2018 at 10:29 AM

    Comment #28

    any news off dubai micky or online guy about the take over …

    been laid up with the nasty flu bug … had the flu jab 2 weeks ago … now i’am riddled with it …

    2
  • ShearMagic

    Dec 13, 2018 at 10:33 AM

    Comment #29

    Jib

    Thanks for that comment, installments had alarm bells ringing for me aswell but that puts my mind at rest.
    Can’t see the transfer record being broken in January mind. Ashley won’t want to lose anymore money before he sells.
    It will be like a massive weight has been lifted off all of the supporters shoulders once he’s gone. I can see the first match of a new ownership already. Bright blue sky’s, beaming sunshine, Peter Kenyon with a beaming smile in the stands and the crowd erupting to a Rondon hattrick. I’ll keep on hoping

    4
  • Just a fan

    Dec 13, 2018 at 10:36 AM

    Comment #30

    Could part of the deal be that Mr Ashley becomes lifelong president?

    1
  • Dingo†®

    Dec 13, 2018 at 10:38 AM

    Comment #31

    ARGOS

    1
  • BlacknWhiteBarmy

    Dec 13, 2018 at 10:38 AM

    Comment #32

    JustafAn – or a ‘Goodwill Ambassador’?

    1
  • Shadow_Shearer

    Dec 13, 2018 at 10:38 AM

    Comment #33

    Does anybody else’s think Almiron looks underweight for the premiership. A bit like Remy Cabella.

    2
  • Dingo†®

    Dec 13, 2018 at 10:39 AM

    Comment #34
  • BlacknWhiteBarmy

    Dec 13, 2018 at 10:39 AM

    Comment #35

    dingo – this is not a search engine!

    2
  • BlacknWhiteBarmy

    Dec 13, 2018 at 10:40 AM

    Comment #36

    shadow – we would take Cabella now! Look at Thuavin

    1
  • Jib

    Dec 13, 2018 at 10:42 AM

    Comment #37

    NUFC already has a life president
    He’s called Sir John Hall

    0
  • Dingo†®

    Dec 13, 2018 at 10:42 AM

    Comment #38

    hes a proper Remy Shadow, I live in Portland now and watching the MLS is dire to say the least…. compared to NUFC’s beautiful game…

    3
  • RobLeenio

    Dec 13, 2018 at 10:43 AM

    Comment #39

    Shadow_Shearer, I’ve been saying that for weeks – he looks lightweight. However, I’m viewing him with an open mind and hoping he’s quick enough and skilful enough that it’s less of an issue. He wouldn’t be the first smaller player to do well in the Prem

    Just in the interests of balance, a reminder that we have been here before, exactly a year ago.
    https://twitter.com/MoneyMikeAshley/status/1073151769335746561

    Cue the frog…

    1
  • Dingo†®

    Dec 13, 2018 at 10:43 AM

    Comment #40

    yes i said it

    1


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