Peter Kenyon's consortium still lacks the cash to meet Mike Ashley's price for Newcastle United.

The Sun says Kenyon has only managed to raise £200m.

And owner Ashley wants more than £300m to sell the club.

Kenyon has been trying to find backers for his bid since September and has been working with American financial firm Rockefeller Capital Management.

But he has so far not been able to prove he has the funds required — even if Ashley allows him to stagger the payments.