There’s a report in the Chronicle today that – as we all had expected – Mike Ashley has finally pulled the plug on any possibility of Peter Kenyon’s consortium buying Newcastle.
Ashley had said in early December on Sky Sports that he was the furthest along ever – in potentially selling Newcastle.
But at the time that seemed a ruse and that’s how it turned out.
There was a letter made public by both sides that Kenyon was “committed to concluding a deal” following a deep dive (due diligence) into the club’s books.
That looked like a PR stunt on both sides, and nothing happened.
Kenyon’s consortium which included financial backing from Rockefeller Capital Management in New York City couldn’t get anywhere near the £300M Ashley wanted.
What happens when you don’t invest in a football club
Kenyon thought he could vastly increase the commercial revenue at the club and wanted to improve the training ground and academy, which are two areas Rafa wants investment in if he is to stay on as the Newcastle manager.
This is what a senior source who worked with Kenyon at Chelsea told ChronicleLive:
“I remember an anonymous staff survey that had been conducted by our HR department and that was the angriest I ever saw Peter when we had the results from that.”
“It showed up an awful lot of inherent, quite poor and unacceptable behaviors.”
“He made some widespread changes off the back of that because he believed in developing a culture.”
Newcastle Central MP Chi Onwurah met with Ashley as part of her preparation for the parliamentary debate she led on the ‘effectiveness of regulation of Newcastle United Football Club.’
This is what Chi Onwurah said about the Newcastle owner last month in the Chronicle after her interview:
“Because it had been impossible to get Mike Ashley’s attention – he seems immune to any kind of criticism – I actually hoped he was going to say something to me like: ‘Don’t bother having this debate because I’m selling the club.'”
“I’m glad I had the meeting and obviously, he’s not a pantomime villain – he’s very passionate in his own defense.”
“But it did serve to convince me that I don’t think he will do anything unless he is forced to.”
“Mike Ashley is a year older than me. When I was 18 and doing my A-levels, he had started Sports Direct.”
“He’s a great businessman; he’s built it up from a market stall to a multi-billion pound company.”
“I think if he wanted to sell something, he could. He has the business acumen to be able to sell stuff so I tend to believe he does not want to sell it and that’s what is very frustrating.”
When a person like Ashley has become a Billionaire by his business acumen of cutting costs as much as possible at Sports Direct, it’s difficult for him to do other than that in business.
The phrase “a leopard never changes its spots” comes to mind.
Consequently, he’s been doing that (cutting costs – not spending too much money) at Newcastle for eleven years now but as we’ve said before, that doesn’t work in football.
Not sure why he doesn’t support Rafa with the club’s money for say two years and then see how much the club is worth in the summer of 2021.
It will be an awful lot more than £300M if he supports Rafa financially because we’ll have a much better squad and be much further up the league table.
We may even have won a trophy by then.
And it will be a win-win-win-win proposition.
- A win for Rafa because he will get some investment at last.
- A win for Ashley because the price of Newcastle will increase.
- A win for our long-suffering fans because the team will become successful, win more games, and we’ll not be fighting relegation every season.
- A win for the City of Newcastle in general because of our excellent football team – a team to be proud of.
Sounds good to us.
What do you think?