Peter Kenyon 'whip-round' raises questions about Newcastle takeover

Peter Kenyon.
Peter Kenyon.

Peter Kenyon's having a "whip-round" as he bids to raise enough cash to buy Newcastle United, according to a report.

Kenyon hopes to take over the Premier League club, which is valued at around £300million by owner Mike Ashley.

However, the former Manchester United and Chelsea chief executive is still understood to be short of funds.

And The Sun today report that Kenyon, seen as the "best fit" for the club by Ashley, is allowing investors to buy into his bid for as little as £1million.

Ashley, however, had claimed that he would only sell United to someone with deep enough pockets to take the club to the "next level".

Fans hope any new owner will have the resources to invest in the squad, stadium and facilities and end 12 years of under-investment under Ashley.

Newcastle are 15th in the Premier League, and two points above the relegation zone, ahead of tomorrow's game against Chelsea at Stamford Bridge.