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Plug Pulled On Kenyon Bid – Here’s A Two Year Experiment Ashley Can Undertake

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.

    1. A win for Rafa because he will get some investment at last.
    2. A win for Ashley because the price of Newcastle will increase.
    3. 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.
    4. 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?

Should Newcastle Sell Shelvey for £20M This Summer?

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11 comments so far

  • Tsunki

    Mar 5, 2019 at 3:09 PM

    Comment #1

    Ah the last sentence is a very amphibian sounding one. Ribbit.

  • Jib

    Mar 5, 2019 at 3:09 PM

    Comment #2

    Rob the legal profession
    I can say no more
    However if you recall we were told the first stage of the sale was a buyer being granted exclusivity which involves removal from the market
    Somewhat like a buyer paying a deposit on a house and insisting the estate agent’s sign is removed

  • Tsunki

    Mar 5, 2019 at 3:11 PM

    Comment #3

    He buys and sells. He knows when and when not to. If he wanted to he would have. He just didn’t want to. Anyone who bought the pr guff I’m sorry to say you were had. Had.

  • ronaldo aarons

    Mar 5, 2019 at 3:14 PM

    Comment #4

    I don’t believe anything until it comes out of Online Guy’s keyboard!

  • martoon

    Mar 5, 2019 at 3:18 PM

    Comment #5

    Jib – thanks for sharing but prepare for ‘pelters’ if nothing happens but I guess you are used to that anyway 😀

  • ronaldo aarons

    Mar 5, 2019 at 3:21 PM

    Comment #6

    We always knew jib was brave… I mean no one else would take a bullet for Mike Ashley!

  • RobLeenio

    Mar 5, 2019 at 3:27 PM

    Comment #7

    Jib, yes I remember the exclusivity period, essentially it’s a chance for the two parties to get the fine details sorted without interference from any third parties. An opportunity to, just as you said, cross the ts and dot the is. If that’s the position they’re in, it may be a couple of weeks but we won’t hear anything official due to NDAs etc.

    I can live with a couple of weeks after getting on for 12 years of Ashley.

    It would make sense from a point of view of Kenyon’s bid being given the push, you can imagine the Ronnie having ears to the ground there but getting only the Kenyon side of the story and coming to a conclusion which maybe doesn’t fit.

    I’m going to remain skeptical but hopeful and get that bottle of vintage Cava on ice!

  • Tsunki

    Mar 5, 2019 at 3:28 PM

    Comment #8

    How many houses have you bought jib? Generally completion is the bit where the sign gets removed. Before that it’s “under offer” and then “sold”.

    Have a jab at another illustration. 🙂

  • toon22

    Mar 5, 2019 at 3:38 PM

    Comment #9

    Remember when we were sold last time JIB ?

    No neither do i

  • Jail for Ashley

    Mar 5, 2019 at 3:44 PM

    Comment #10

    Serial bullshitters, and I mean proper bullshitters, like the kind when you tell other people what stories they’ve told kind of doubt you, they do exist, they’re not rare but not commom either, you come across them on say, 1 in ten jobs. You are actually one of those bullshitters that incredibly believe the tripe that they spill out!!

  • nufc 11

    Mar 5, 2019 at 5:33 PM

    Comment #11

    Selling Shelvey for 20million is far fetched but even if nufc did get 20million for him what good is it when Ashley will sanction a 6 million replacement and bank the profit? As long as Ashley remains I will stay a far away distant supporter of nufc.


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