Mike Ashley fears Peter Kenyon does not have funds to complete £300m Newcastle takeover Sources close to Mike Ashley claim Peter Kenyon is ‘rowing his own boat’ They are yet to see evidence of the financial support to see through £300m deal Former Manchester United and Chelsea chief has access to club’s accounts By Craig
Mike Ashley fears Peter Kenyon does not have funds to complete £300m Newcastle takeover
- Sources close to Mike Ashley claim Peter Kenyon is ‘rowing his own boat’
- They are yet to see evidence of the financial support to see through £300m deal
- Former Manchester United and Chelsea chief has access to club’s accounts
Mike Ashley does not know if Peter Kenyon has the funds to complete a takeover of Newcastle United, Sportsmail has been told.
Sources close to the Magpies owner say the former Manchester United and Chelsea chief executive has been ‘rowing his own boat’ and they are yet to see evidence of the financial support he would need to see through a deal of around £300million.
However, given Kenyon’s standing within the game and knowing he has been working to secure investors in the US, he has been given access to the club’s detailed accounts.
Peter Kenyon is interested in taking over from Mike Ashley at Premier League outfit Newcastle
It is thought the consortium Kenyon has been putting together could firm up their backing following analysis of Newcastle’s finances, and Ashley is hoping this proves to be the case.
Sources also insist there are three other parties who have agreed to meet the valuation in excess of £300m, although their identity remains unknown.
Ashley, it is said, remains optimistic of a sale going through before the end of the month, but that still needs Kenyon – or another group – to return with a firm offer having completed due diligence.
Were Kenyon’s takeover bid to prove successful, it is thought he would install himself as chief executive at St James’ Park.
Newcastle owner Ashley says talks are at a ‘more progressed stage than they have ever been’