It’s not even October and Newcastle United have already found themselves embroiled in yet another frustrating takeover saga after the leak of a potential new bid last night.
The news broke after the media were leaked a 46-page brochure outlining the consortium’s takeover plans, the contents of which can be viewed here on the Chronicle’s website.
But from the looks of it, it’s not exactly the kind of takeover Newcastle fans can get excited about.
Kenyon and GACP: Another false alarm?
Most Toon fans will have become bored of takeover talk in the last few years, as nearly every proposed bid has fallen flat so far.
Kenyon himself tried to rustle up backing to buy the club last year, but failed to raise sufficient funds in the eyes of current owner Mike Ashley.
However this time it appears his joint effort with GACP Sports will see him make a far more serious offer.
It’s claimed that the consortium are willing to make a £125m down payment to Mike Ashley for the club, and the remaining £175m would be paid in instalments over a three-year period.
But when looking at the leaked brochure, it’s hard to get excited about their proposed plans.
The document itself reads more like an advert for investors rather than a set-in stone plan, and it may well be the group are still lacking funding.
It doesn’t exactly scream successful takeover and the vision outlined wont excite Newcastle fans either.
Kenyon and GACP’s underwhelming vision
For those hoping for a total overhaul and a huge transfer budget, please look away now.
For the current 2019/2020 campaign, the consortium are pledging £75m for new players, followed by a £35m spend next season and £40m for each of the following seasons.
Newcastle fans saw this season that £40m is the mere cost of someone like Joelinton these days, and so under Kenyon they would expect to continue to see investment in cheaper players like Martin Dubravka and Fabian Schar.
It’s not massive amounts of spending, which is the main gripe Toon fans currently have with Ashley.
These transfer funds are also planned to come from boosting commercial revenue as opposed to coming out of the pockets of the consortium itself.
The document predicts they could more than triple the £5.5m-a-year shirt sponsorship with Fun 88 to £18m and also pledges to double the £6m-a-year kit deal with Puma.
A more concerning piece of the brochure however is it’s support of Steve Bruce.
Most fans would want to see the manager moved on if a takeover was to happen, but Kenyon and GACP plan to back him.
The document states the manager has ‘unparalleled success in Europe’, despite just one failed European campaign with Hull under his belt.
It remains to be seen whether Ashley will be convinced by this latest offer, but it’s getting easier and easier not to get your hopes up these days as a Newcastle fan.
Some fans will be excited at simply the prospect of no Ashley, but this latest bid would only see Newcastle achieve mid-table stability at best.
Its better than a relegation fight, but its a far cry from the proposed fantasy billions of the Bin Zayed Group this summer.
But after the last decade under Ashley, Toon fans may well be happy for some mediocrity.
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