Former Manchester United and Chelsea chief executive Peter Kenyon is back in the news after a sensational report that he has made a second attempt to buy Newcastle United from the likely unwilling clutches of Mike Ashley.
This time Kenyon comes backed by the American group GACP Sports who are also part owner of French club Bordeaux. Though Ligue 1 commentator David Crossan pointed out on Twitter that they own just 14%.
#nufc GACP front Bordeaux but they own only 14% with their partners King Street owning 86%. Bordeaux fans weren’t happy with summer transfer spending but recent results under Paulo Sousa have been good (6 unbeaten and counting) https://t.co/Ha9KzDcuNm
— David Crossan (@davidmcrossan) September 26, 2019
The latest bid from Kenyon and his group is reportedly £300m and Ashley has 10 days with which to respond. This amount, however, is short of the reported £350m deal that the Bin Zayed Group were trying to get done this summer.
That deal, details of which are very much in the dark and may never come to light, quickly dissipated as soon as Mike Ashley gave his interview to Martin Samuel in the Daily Mail – the same outlet that has broken this latest takeover attempt.
Mike Ashley made the following comments in that interview with Samuel:
“The last bid, the one from UAE, he’s a prince and he’s got £38bn or £100bn, all these numbers — well, why would you even care what you’re paying then? What difference would £10m either way make? You would want speed, you would want certainty, you would want the keys and to get on with it.”
That’s an interesting comment and could lead one to suspect that Ashley moved the goalposts on BZG, but we’ll likely never find out the ins and outs of that supposed deal.
However, if Ashley was so concerned about an extra £10m why would he be willing to sell to Kenyon for less than he wanted from BZG? If this latest takeover attempt has any credence, we would expect Mike Ashley to turn it down. However, we must put an emphasis on the word “if”.
These latest takeover rumors, though, have come with a 46 page brochure which can be read here. This brochure is not likely to fill many Newcastle fans with much confidence in these new potential owners. While there are many issues with the report, we found two to be concerning for most Newcastle fans.
Two of the major complaints we have with Mike Ashley’s running of Newcastle United is continuing to buy players solely for their resale value along with a lack of investment in the club’s infrastructure. The brochure puts in writing that it plans to “sell top talent” for reinvestment in the squad. It also has nothing that we could find about investing in the club’s training facilities.
Here is page 18 of the report which simply is a screenshot of the website transfermarkt.com listing the “market value” of each Newcastle player. It is apparent from this list of players that this is an older screenshot from the website as it still has players like Ayoze Perez and Joselu listed, among others. While transfermarkt.com is an excellent website, it’s valuation of players is not known to be their best feature.
The following is page 21 from the brochure which outlines “On Pitch” and “Off Pitch” opportunities for to increase the value of Newcastle United.
Under the “On Pitch” section is the following statement:
With a transfer strategy in place, the Club would be positioned to sell top talent for significant sums allowing for continued substantial reinvestment into the squad
The “Off Pitch” section then states that it hopes to increase commercial revenue from £22m to £61m. Earlier in the brochure, the major selling point to investors was the high television revenue that Premier League clubs receive. So why exactly would Newcastle need to sell their top players to increase the value of the club?
We understand that this brochure is meant to lure investors but the whole reason why Mike Ashley’s model is a moot point now is because there is no need to sell your “top talent”. The club gain enough revenue to complete in the transfer market without having to sell players.
We also have completely bypassed the contention that Steve Bruce has had unparalleled success in Europe. That is also on page 21. Why was this brochure not updated with a current squad if it also mentions Steve Bruce as manager? Also what success has Steve Bruce had in Europe?
In short, even if this is a real attempt to buy Newcastle by Peter Kenyon and GACP Sports, we are a little concerned at what they would have in store for the club.
However, the motto of “Anyone But Ashley” is certainly a tempting one.
89 comments so far
Jib
Sep 27, 2019 at 6:49 PM
Comment #183
Ashley sold SP to a Doncaster based company
http://www.marrico.co.uk/
toon22
Sep 27, 2019 at 6:54 PM
Comment #2Hiya KBA
Nufc-83
Sep 27, 2019 at 6:57 PM
Comment #3Same company based in Durham in the articles I have read. The mag reported Ash bought the land from nufc for 6m held onto it and achieved planning permission before selling the land for 9m pocketing the 3m.
Nufc-83
Sep 27, 2019 at 6:58 PM
Comment #4I can’t seem to post the link to the mag article does ED block them?
bettyswallocks
Sep 27, 2019 at 6:58 PM
Comment #5OLG……….From previous. It is indeed a depressing scenario to think that Ashley may well be here for years to come in one guise or another.
It certainly would leave a bad taste if we did get new owners but money spent in and around the club was still heading in the direction of our fat greedy previous owner.
Nufc-83
Sep 27, 2019 at 7:00 PM
Comment #6Any owner would be better than Ashley regardless if he retained some merchandise rights. I would take Kenyon with no money any day over Ashley who won’t invest (so basically no money).
Jail for Ashley
Sep 27, 2019 at 7:09 PM
Comment #7Just watched Look North. According to them there’s going to be 175M upfront with the rest paid in instalments over three years in which time the SD signage will stay in place. This made me wonder, if Kenyon can promise to put in 40M a year and pay Ashley back 45M a year, considering we’ve never had a net spend over 30M for the last three summers, where’s the spare 55M been going.
Assassins Inc
Sep 27, 2019 at 7:12 PM
Comment #8Toon 22. Are you the dumbest person on the planet that you see my post as either a Wun or PR.
Toon 22 it’s probably blatant to everyone this is called Sarcasm.
I’m so happy to hear finally we have a takeover happening, this is fantastic news. It somewhat reminds me of the news we received last Sept/
Oct and the year before that and the year before that, it’s great to see that this is one statistic about Newcastle that is spot on every year we get some really great news.
Many thanks Mike Ashley, many thanks for trying to make us believe this is happening so Fans come back, I can’t wait for the next piece of news that fans need to start supporting the team so the takeover happens.
Mike your a diamond in the rough, now can you do one more thing for us deserving fans, drive down to Dover, hire one of those human sized canon ball machines, jump in and slide down to the bottom and then hit fire. Thanks Mike.
toon22
Sep 27, 2019 at 7:13 PM
Comment #9At best it’s just a new lie
Different front to the same shop
toon22
Sep 27, 2019 at 7:14 PM
Comment #10Assassin
Hiya
This sales a definite
Let’s ignore all the other sales ?
You’d have to be stupid to believe that
toon22
Sep 27, 2019 at 7:15 PM
Comment #11Backs the sale lie
Pretending it’s sarcasm
😉
ChicoUSA
Sep 27, 2019 at 7:17 PM
Comment #12Jail @7
“… where’s the spare 55M been going?”
For black paint! That stuff is costly!
Anglo Saxon
Sep 27, 2019 at 7:17 PM
Comment #13Ashley, the saying goes when your in a hole Stop F88king digging you dick head.
Online Guy
Sep 27, 2019 at 7:17 PM
Comment #14Nufc 83
When we received 6 million for the land you say ? , that should read when Ashley received millions for the land from a company that his brother in law had a vested interest in and is part of ..strange that ? Check out “Marrico.
It’s well documented on line and if you do a search you will find details
Iv read opposing stories relating to the land sale .. 15 million is mentioned , £9 mill, £6 mill.
Bottom line is vast sums of money involved , Ashley, Ashleys brother in Law, land sale.
Ask yourself who has profited . Newcastle United maybe ? No.
bill
Sep 27, 2019 at 7:19 PM
Comment #15It must be true; there is a brochure. LOL
Here we go again. What a load of crap.
JohnJ
Sep 27, 2019 at 7:21 PM
Comment #16Take over – Fake over?
I’ve been disappointed so many times I’ve now in the mind of I’ll believe it when it happens!
bill
Sep 27, 2019 at 7:21 PM
Comment #17Not only that OLG but, haven’t we also lost the prospect of increasing the stadiums capacity?
Reilly
Sep 27, 2019 at 7:25 PM
Comment #18SP has been done to death Eric/Tony.
It was in the last account’s,go check on CH.
Mad Frog Boom 22
Sep 27, 2019 at 7:30 PM
Comment #19Frogs are here, lies there f ing everywhere.
Online Guy
Sep 27, 2019 at 7:33 PM
Comment #20Jib
That’s a good pic..first time Iv seen it .
Jail for Ashley
Sep 27, 2019 at 7:34 PM
Comment #21Personally I actually believe it this time and the deal is going to be shockingly bad for the club. I don’t even think there’ll be 175M upfront or repayments the whole thing will be a sham, when the three year deal for signage is up there’ll be complications in the “repayments” and another two years will be agreed and it will carry on, what Kenyon and his group will be getting is a share of the increased merchandise sales with the hope of people rushing out buying shirts etc, any sane adult isn’t buying them anyway so he’s got nothing to lose by giving that away. Preferred buyer my arse, if he gets it he was the only guy ever going to get it and I hate him as much as Ashley already.
lochinvar
Sep 27, 2019 at 7:36 PM
Comment #22Is it a glossy brochure ?
Could make the difference
Like a good brochure me
lochinvar
Sep 27, 2019 at 7:38 PM
Comment #23Jib
is that you, Bruce or Keegan in your avatar ?
Things ain’t what they used to be in the eyesight department
toon22
Sep 27, 2019 at 7:38 PM
Comment #24Exactly Jail
A new front to the same shop
Won’t believe anything until it’s out of Jabbas hands entirely
Online Guy
Sep 27, 2019 at 7:39 PM
Comment #25Yes Bill
It’s not about the money with me it’s Ashleys short sighted view of the club and failure to expand the Gallowgate end .
I do know there is a lot of planning objections gone in.
Nufc-83
Sep 27, 2019 at 7:40 PM
Comment #26wow Jail who cares Ashley no longer makes decisions such as appointing the likes of McLaren and Bruce. If that’s the only thing that changes it a massive step up from what we have.
RobLeenio
Sep 27, 2019 at 7:41 PM
Comment #27NUFC-83, you say the club sold the land to the developers. Sadly, the land had been transferred away from NUFC before it was sold.
The owner at the time it was sold was MASH Holdings. Therefore, the money went to Mike Ashley direct, it never came anywhere near NUFC.
This is what we mean by asset stripping.
I’m not sure which set of accounts it’s in, but you can see the transfer of the land and the sale at some point.
RobLeenio
Sep 27, 2019 at 7:43 PM
Comment #28Toon-22, are you feeling ok? I haven’t seen a single person say they believe this sale is ever going to happen. Who is it you think you’re shouting at?
Assassin put on a post full of less than subtle but well crafted irony and sarcasm, which invites Ashley to drown himself at the bottom of the sea and attacks his failure to sell the club on many separate occasions and you think he’s a shill???
Honestly fella, you don’t do yourself any favours.
Nufc-83
Sep 27, 2019 at 7:46 PM
Comment #29OLG I have looked many times to find Michael Murray and the connection with marrico and I just don’t see it in any article? I see he provides property consultancy for SD but that is the only link?
dougie
Sep 27, 2019 at 7:48 PM
Comment #30Its fake news,the clubs not even for sale.Why would the parasite sell Sports Direct FC,it’s his favourite cash cow and it’s free advertising all over the world for his tat shops.Same old bullshit, we’ve been here before and around this time next year it’ll all start again.Its a zombie club with no ambition.Boycott!
Essex Geordie Bill
Sep 27, 2019 at 7:48 PM
Comment #31Assassins Inc.
You might as well talk to a wall as try to reason with him!
It was blatantly obvious that you were being sarcastic, which is why I questioned his response to you.
RobLeenio
Sep 27, 2019 at 7:48 PM
Comment #32Bill, the point isn’t really about what the land meant for a stadium expansion – it’s debatable whether it could have been used like that or not, given the metro line which runs beneath it and the road that separates the land from the stadium.
The point is that it was theft, pure and simple, and robbed us of the potential for even exploring possible future expansion that way.
I actually like the idea that was suggested a few months ago of turning the pitch 90 degrees to make better use of the current footprint, which would boost the capacity to 70,000.
In order to have any chance of filling that capacity, we’ll have to get the owner out first.
Essex Geordie Bill
Sep 27, 2019 at 7:49 PM
Comment #33toon22
My Apologies I’ll correct that comment.
It sounds highly plausible to me.
As the saying goes 8th (toon22 needs to confirm that figure) time lucky!
Essex Geordie Bill
Sep 27, 2019 at 7:52 PM
Comment #3444 Hours 38 Minutes to KO
RobLeenio
Sep 27, 2019 at 7:54 PM
Comment #35Ahhhh, EGB starts his countdown and now the weekend has begun….
😉
Paul141726
Sep 27, 2019 at 7:55 PM
Comment #36Takeover??
Hysterical!!!!
Laughing emoji x 1,000,000,000
toon22
Sep 27, 2019 at 7:56 PM
Comment #37Look at what Jabba is doing to Rangers
He wont ever walk away from us unless he is forced to
At best Kenyon is the new face to the big lie
RobLeenio
Sep 27, 2019 at 7:56 PM
Comment #38Anyone have a subscription to The Times and can transcribe the Sean Longstaff interview for those of us who are too tight?
https://www.thetimes.co.uk/article/sean-longstaff-i-dont-want-to-change-im-the-same-shy-kid-i-always-was-qpggx05zs
Munster Mag
Sep 27, 2019 at 7:57 PM
Comment #39Rob at 28, u are too nice. You should be more blunt…..Frog you’re a nutter.
RobLeenio
Sep 27, 2019 at 7:59 PM
Comment #40Munster, probably but it’s Friday, I’m having a glass of wine and I’m chilled.
Ask me again Monday morning!