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?