View: Kenyon must be thinking twice about Newcastle takeover bid after new valuation report

OPINION

The future continues to look bleak under Mike Ashley at Newcastle United.

The controversial owner is still in charge at St James’ Park despite the constant boycotting and fan uproar over his day-to-day running of the club.

Things don’t seem to be getting better, and despite the excitement of constant takeover talk in the North East, nothing concrete appears to be progressing as much as people would like.

It was reported by the Daily Mail that Peter Kenyon was fronting a £300million bid to take over the club with the goal to cement the Magpies as a top-ten club in the Premier League.

That hasn’t happened as of yet, and the potential new owner may want to reconsider his reported offer for the club with the latest update from intermediaries.

Journalist Mark Douglas revealed on the Chronicle that intermediaries involved with football takeovers believe that Ashley’s £350million valuation of the club is dropping by as much as £10million every single month the Magpies remain in relegation trouble in the Premier League.

Kenyon isn’t the only interested party in taking control of Newcastle, but no other potential buyers are prepared to meet his valuation at this stage of the campaign, making any takeover being completed before January unlikely.

The businessman will surely think twice about the potential takeover bid he is readying for Ashley and will consider the fact that he could complete the move for a much cheaper deal.

It would be smart from Kenyon to stick around and get the assurances that Newcastle will cement their spot in the Premier League before completing anything.

With the valuation of the club potentially dropping by £10million each month they are near the bottom three, an average season at St James’ Park could play into his hands.

Kenyon will surely think twice over completing any takeover of Newcastle at this moment and wait to see if he could take advantage of a potential poor campaign.

This article was originally posted here