Newcastle Utd in takeover talks with Singapore group

Newcastle United is in talks with the Bellagraph Nova Group (BNG) group over a possible takeover bid, the Singapore-backed company said in a statement. 

BNG, headquartered in Paris, said negotiations were at an advanced stage and that the group was willing to “massively contribute” to the club’s development. 

BNG was co-founded by Singapore-based investors Evangeline Shen, Nelson Loh and Terence Loh.

“Bellagraph Nova Group’s founders (have) already provided a LOI (Letter of Intent) as well as a proof of funds on Aug. 10,” BNG said. 

“In addition to the engagement to the Newcastle Football Club and community, Bellagraph Nova Group enlisted help of England captain Alan Shearer and former player Michael Chopra.” 

BNG earned about $12 billion in revenue last year.

The group said talks with Newcastle United owner Mike Ashley were ongoing.

Newcastle United’s £300 million proposed takeover by a Saudi Arabian-backed consortium collapsed last month after it was delayed by the Premier League’s “owners and directors test.”

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