It was the only option which allowed him to remain in situ, and that's always been what mattered most. It's the reason he was happy to invite Earl/Green to shore up a sizeable number of shares, despite knowing full well that they had zero interest in contributing to the club beyond boxing off Sylvester Stallone with a scarf.
Appointing Moyes was a masterstroke, I'll admit. No one else would have been willing to go through two and a half years without a single first team purchase, at a time when the game was absolutely flush with money. It's the type of thing you'd expect from a Venkys or Cellino, but somehow Kenwright managed to get off with a few aeroplanes and a Heitinga cake.