Ex-Man Utd & Chelsea chief Peter Kenyon heads takeover consortium

Ex-Man Utd & Chelsea chief Peter Kenyon heads takeover consortium

Current owner Mike Ashley said in an interview this week that discussions over a sale "are at a more progressed stage than they have ever been".

The Guardian claims that Ashley is now "considering four bids in excess of £300m" for the Magpies, including one from a consortium led by Kenyon.

Peter Kenyon's consortium are believed to be one of the parties who have tabled an offer.

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, the recent developments will give hope to a starved Toon Army, who have long held out hope that Ashley will finally end his 11-year tenure at the club.

Disgruntled supporters have made their feelings abundantly clear over his repeated failure to provide his managers, and in particular present incumbent Rafael Benitez, with the funding to compete in the transfer market, with Ashley having admitted he can not afford to do so.

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Newcastle got off to a dismal start to the season, only for a three-game winning run in November to allow them to drag themselves out of the relegation zone. We are in the same situation that we were in before.

Rafa Benitez has insisted that it is business as usual as far as he's concerned and that his January transfer plans remain unaffected despite the uncertain state of affairs behind the scenes.

Now, with the January window approaching, Benitez says he and managing director Lee Charnley are busy working on potential targets who can help the club strengthen.

Our plans are to look for the [transfer] targets.

"But for me, we carry on and thinking that Mike will be there, and we have to choose the right players for us".

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