Prospective Newcastle United buyer Peter Kenyon is offering investors the chance to buy-in for just £1million, according to The Sun.
The newspaper report that the former Premier League chief is growing desperate in his search for backing as he attempts to take over the Magpies from Mike Ashley.
The Sun claim that Kenyon is still on the hunt for the £300million needed to buy Ashley out, and is willing to do whatever it takes to raise the cash.
It is said that Ashley views Kenyon as the most suitable prospective buyer for the Magpies.
OPINION
If true, this is not the best sign for Kenyon and his attempts to buy Newcastle United. The former Premier League executive is obviously struggling to raise the requisite cash to buy Ashley out, and with time ticking on, things could start to get worrying for Kenyon very soon. Ashley ended talks with Amanda Staveley last year after several weeks, and should Kenyon fail to raise the money soon, then you could see the same happening once again. The biggest concern for Newcastle fans here is a lack of heavy financial backing for Kenyon. Even if he manages to stump up the £300million required to buy the club, where is he then going to get money from to buy players? A lack of backing in the transfer market has been one of the biggest issues at the club in recent seasons, and that would likely not change if Kenyon is struggling to raise the cash to even buy out Ashley.