Mike Ashley is 'yet to see evidence' that Peter Kenyon has the funds required to launch a takeover bid for Newcastle, according to a source close to the Magpies owner.
A consortium led by the former Manchester United and Chelsea chief executive has emerged as the frontrunner to buy Newcastle this week, after Ashley claimed that he was looking to sell the club 'before the January transfer window'.
However, a source has told the Daily Mail that Kenyon has been 'rowing his own boat' and has not yet given any proof that he will have the financial backing to match Ashley's £300m asking price.