“A deal of £300,000,000 has been agreed for the purchase of Newcastle United”

The story from the Northern Echo is that Peter Kenyon and Mike Ashley believed to have agreed a deal in principle for £300m to be paid in staggered amounts according to reports.

There were doubts earlier in the year with whether or not Kenyon can find the funds that’ll meet Ashley’s asking price, these doubts now seem to be over. Peter Kenyon’s consortium, working with Rockfeller Capital management in the United States, is now believed to be the clear favourite to get a deal done despite interest from Eastern parties. 

Mike Ashley has granted Peter Kenyon with the access to the clubs accounts but he is hesitant to agree on Kenyon’s staggered payment plan which means if Ashley was to agree then he is willingly accepting payments in installments and not his preferred way of receiving the full payment in one sum.

But even if the deal does go through and Ashley agrees to receive the payments in an installment plan, the sale of the club would need to be approved by the Premier League which would likely delay the funds that Kenyon plans to inject into the club into January, if not longer.

What are your thoughts on this? 

 

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