Peter Kenyon’s bid to buy Newcastle appears ‘dead in the water’, according to the Sun.
The report claims that he is still £100million short of the asking price and had come up with a number of ways to raise the extra cash.
One of them was for Newcastle to qualify for the Champions League in the next 10 years.
It is reported that Mike Ashley has rejected that out of hand and wants the money up front.
OPINION
We know what Newcastle fans think of Mike Ashley but on this one it seems that Kenyon is the party in the wrong. The price is the price and he knew that Ashley wanted £300million when he started talks. To come up with a way of clawing £100million of that back based on future results, as a last throw of the dice, was never going to be acceptable and now it looks like Newcastle fans have got to accept that, once again, a takeover that looked distinctly possible is now not going to happen. The big problem is that with the transfer window just days away from opening, it looks like Newcastle will once again have very little money to buy new players with. Ashley is playing a very dangerous game. If Newcastle get relegated then there is no way he’ll get the £300million he wants and that means he might have to bed in and stay at the club even longer.