BNG say it has received help from former Newcastle strikers Alan Shearer and Michael Chopra
From Reuters
Last updated: 8/17/20 8:56 am
Singapore-backed Bellagraph Nova Group (BNG) claims it has held talks with Newcastle about a possible takeover of the club.
BNG, co-founded by Singapore-based investors Evangeline Shen, Nelson Loh and Terence Loh and headquartered in Paris, said negotiations were at an advanced stage and the group was ready to make “massive” contributions to the club’s development.
In a statement by BNG it says: “The founders of the Bellagraph Nova Group submitted an LOI (Letter of Intent) and proof of funding on August 10th.
“In addition to its commitment to Newcastle Football Club and the community, the Bellagraph Nova Group has asked English captain Alan Shearer and former player Michael Chopra for help.”
Alan Shearer played for Newcastle for 10 years before retiring in 2006
BNG owns 31 companies and had sales of around $ 12 billion (£ 9.154 billion) last year, according to the company’s website.
The group added that talks with Newcastle owner Mike Ashley had taken place and were ongoing over the past few days.
The £ 300m acquisition of Newcastle by a Saudi Arabia-backed consortium collapsed last month after the group announced it would end interest in the deal, delayed by the Premier League’s owner and director test has been.
Mike Ashley has owned Newcastle United since 2007
Richard Masters, chief executive of the Premier League, said last week that the group, which included Saudi Arabia’s Public Investment Fund (PIF), had refused to accept the Premier League’s offer of independent arbitration to rule who the club would belong to.
However, Sky Sports News was told that Ashley is still in touch with the PIF and its partners and is attempting to revive the takeover.
The Saudi-backed offer has been criticized by human rights activists, and questions have also been raised about pirate broadcasts of Premier League matches in the Middle Eastern country.
Sky Sports News asked Newcastle for comment.
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