Newcastle United: What we know so far about the new takeover interest

Newcastle United's stadium: St. James' Park. (Photo by Michael Regan/Getty Images)
Newcastle United's stadium: St. James' Park. (Photo by Michael Regan/Getty Images) /

One takeover attempt has fallen through, but a new group is now interested in purchasing Newcastle United.

Newcastle United have been described as a team in limbo for several months now as a result of the lengthy takeover process that ended in the buying party withdrawing their bid.

The takeover review process entered week 17, and by this point the consortium comprised of Saudi Arabia’s Public Investment Fund (PIF), Amanda Staveley, and the Reuben brothers had enough.

Although they backed away from the deal – most likely as a tactic to place pressure on the Premier League – it remains to be seen if they plan to return to the negotiating table since they claim they still want to buy the club.

If that is true, they need to act quickly because a new interested party from Paris has now entered the takeover saga.

According to recent updates from Sky Sports’ Keith Downie, the Bellagraph Nova Group (BNG) has submitted an offer to Mike Ashley. The report goes on to claim that BNG, which is supposedly working closely with former Magpies Michael Chopra and Alan Shearer, have submitted their proof of funds to Ashley’s representatives and made an initial offer of £280m.

The front office at St. James’ Park has not responded to BNG regarding their offer, but one can assume that Mike Ashley will never agree to sell the club for less than £300m, which is what he was offered by the previous consortium.

So, what exactly do we know about the Bellagraph Nova Group? Well, the trio that founded the company consists three main players: Evangeline Shen, Terence Loh, and Nelson Loh. Shen and the Loh cousins, who are from Singapore, formed the company through a merger that took place two months ago.

According to the Chronicle, Shen is expected to be the key decision-maker who would handle the daily operations on at St. James’ Park. The fact that BNG has business contracts and partners in over 100 countries is impressive, but they can they be as successful in their negotiations with Mike Ashley? Let’s hope so.

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As more information is reported, we will utilize our platform to relay that information to you all. For the time being, though, this all we have been able to gather from sources with direct access to Newcastle United.