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Ex-Man Utd and Chelsea chief Peter Kenyon hopes to complete Newcastle takeover before January transfer window

, Ex-Man Utd and Chelsea chief Peter Kenyon hopes to complete Newcastle takeover before January transfer window

PETER KENYON is reportedly hoping to complete a 300million takeover at Newcastle by January.

SunSport revealed former Chelsea and Manchester United chief-executive has joined forces with US-based investment group GACP Sports, who front French club Bordeaux.

Peter Kenyon has stepped up his move to buy Newcastle by teaming up with US-based investment group GACP Sports

And according to The Mirror, the American group have already set up several new companies to facilitate a winter Toon takeover.

A source said: Theyre hoping itll happen. Theyre doing due diligence and they want to get the takeover done before the January transfer window, and then get some players in.”

GACP are believed offering Newcastle owner Mike Ashley a 300m buyout, with the deal structured over three years with the club receiving an additional 50m on completion of a change of ownership.

Ashley remains sceptical of the deal, though, after Kenyon last year failed to agree a fee to takeover at St James Park.

Newcastle also saw Dubai-based company,Bin Zayed Group – fronted up by multi-billionaire Sheikh Khaled – fail with a summer takeover.

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It was suggested the Middle Eastern group were willing to pay 350m for the club, but a deal fizzled out with Kenyon now leading the way to take Newcastle off Ashleys hands.

SunSport revealed there was a 46-page brochure sent out to potential investors this summer, and Kenyon laid out his plan to pay 125m upfront then a further 175m over three years.

However, unpopular Ashley needs convincing over some finer details of the proposed deal and Kenyon knows there is work to be done.

Kenyon, who has previously been told he is Ashley’s preferred bidder, has not been deterred and is determined to iron out any problems to get the takeover over the line.

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, Ex-Man Utd and Chelsea chief Peter Kenyon hopes to complete Newcastle takeover before January transfer window
Newcastle United owner Mike Ashley has come under huge criticism from the St James’ faithful

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