PETER KENYON has still not secured the funds to buy Newcastle despite continued talks with Mike Ashley.
The former Chelsea and Manchester United chief executive has been trying since September to find backers to launch a takeover of the Toon.
Getty Images4 Peter Kenyon's attempts to buy Newcastle continue
But SunSport understands Kenyon is yet to complete financial arrangements with investors in America before he can table a formal bid.
Owner Ashley revealed on Monday talks over a sale are “at a more progressed stage than they had ever been”.
That was believed to have been a reference to the Kenyon-led consortium.
Yet it looks unlikely any takeover will be completed by the Sports Direct tycoon’s preferred time-frame of January as a bid would need to be accepted and due diligence completed.
AFP4 The former Man Utd and Chelsea chief is yet to secure funds needed for a takeover
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Then, the Premier League carry out their own checks, which take two weeks.
Kenyon is working with US firm Rockefeller Capital Management and has been searching for backers for the past four months.
Sources close to Ashley insist another three parties are interested in buying Newcastle and can match his £300million-plus valuation.
But our sources claim no group is yet to make contact with Toon manager Rafa Benitez, who is one of the club’s biggest assets though is out of contract in the summer.
PA:Press Association4 Kenyon has been locked in talks with Ashley since September