Peter Kenyon is hoping to structure a new £300m payment plan to takeover Newcastle from current owner Mike Ashley.
The ex-Manchester United and Chelsea chief executive, currently working with American investment firm subsidiary GACP Sports, has concocted a four-part payment plan in an attempt to takeover the Tyneside club.
According to The Sun, the Florida-based company, who also own Ligue 1 team Bordeaux, have secured legitimate funds from investors which satisfy Mike Ashley's £300m asking price. The only obstacle is securing a payment plan that will convince the Newcastle owner and Sports Direct CEO Ashley to sell up.
The reported four-year payment plan was summarised in a 46-page document sent out to all potential investors this summer. The payment plan laid out by Peter Kenyon includes an up front payment of £125m, with a further £175m to be paid over three years, although it is believed that the finer details still need to be ironed out with the House of Fraser mogul.
It is believed that Peter Kenyon is Mike Ashley's preferred choice, and the deal would see Kenyon return to the Toon as chief executive.
Whilst GACP have aided Kenyon with acquiring investors to secure the takeover, it is thought that the American firm will focus on their ownership of Bordeaux, where senior partner of the firm, Joseph DaGrosa, is president.
The Nouvelle-Aquitaine based club have enjoyed recent success under their new ownership, with a semi-final place in last year's Coupe de la Ligue and losing only one of their opening seven games in the 2019/20 season.
If the touted takeover happens, the Magpies following will be hoping for some of the same shrewd acquisitions that Bordeaux have managed, with Laurent Koscielny joining from Arsenal for a reported fee of £4.6m. The ex-Gunners captain has started six of the opening seven games, keeping two clean sheets and conceding a respectable 1.14 goals per game.
Current Newcastle boss Steve Bruce knows Peter Kenyon, with the former Hull City and Aston Villa manager once rumoured to be a candidate to manage Wolves after Kenyon aided Chinese conglomerate Fosun International in the takeover of the West Midlands club in 2016.
However, Bruce remains coy on the subject, stating in his pre-Leicester game press conference, “It’s an ongoing saga. Until it’s bona fide, I think people are saying, ‘Here we go again’. It has happened that many times.
“The players have probably seen it how many times? Five? Six? Twice a season for the last few years?“ It’s common knowledge the club’s for sale. But this club always has speculation around it and it has never happened. Watch this space.”
With Newcastle sitting in 17th in the league having amassed only five points after a single victory from their opening five games, talk of a takeover bid should be the last of Steve Bruce's troubles.
Ahead of Newcastle's clash with Leicester on Sunday, Bruce expressed that “the only thing I can influence is how we play. That’s the only thing I can focus on.
“Until it is decided, it cannot be any influence to us. We just have to carry on.”