Newcastle In Takeover Talks With Singapore Investors

By Daily sports on August 18, 2020

English Premier League club Newcastle United has held talks with the Bellagraph Nova Group (BNG) group over a possible takeover bid, the Singapore-backed company said in a statement.

BNG, co-founded by Singapore-based investors Evangeline Shen, Nelson Loh and Terence Loh, and headquartered in Paris, said that negotiations were at an advanced stage and that the group was willing to “massively contribute” to the club’s development.

“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 owns 31 entities and earned about $12 billion in revenue last year, according to the company’s website.

The group added that the talks with United owner and British businessman Mike Ashley had taken place in recent days and were ongoing.

United’s 300 million pound ($393 million) takeover by a Saudi Arabian-backed consortium collapsed last month after the group announced it was ending interest in the deal, which was delayed by the Premier League’s owners and directors test.

Premier League chief executive Richard Masters said last week that the group, which included Saudi Arabia’s sovereign wealth fund PIF, declined to take up the Premier League’s offer of independent arbitration to decide who would own the club.

The Saudi-backed bid was criticised by human rights campaigners, with questions also being raised about pirate broadcasts of Premier League games in the Middle Eastern country.

•PHOTO: Newcastle United’s Dwight Gayle in action with Liverpool’s Neco Williams, as play resumes behind closed doors following the outbreak of the coronavirus disease (COVID-19) Pool via REUTERS/Laurence Griffiths

Source Daily sports

Posted August 18, 2020


 

You may also like...
Hat trick recorded as Gov Dickson Football Tournament...

Majestic O’Sullivan Crushes Wilson To Claim Sixth World...

Republic of Benin taunt Golden Eaglets: 'Your boys...

Injury Update: Osimhen Discharged From Clinic In Milan,...

The rise of Man United’s McTomminay from Under...

Ndidi Can Help Manchester United — Hargreaves

 

Latest News Lagos SWAN Commiserates With Bishop Wale Oke Over Mother's Death MEET FINIDI’S ASSISTANTS ‘Don’t owe Finidi salaries’ Boxer Lawal dies after pro debut Nnadozie, Oparanoize for LIS conference Beach Soccer President In Anambra Impress With Preparations Nigerian Wheelchair Tennis Player, Ukari Seeks Asylum In Canada Over Threat To Life HB Utility Wins 5th JOF U-13 Football Tournament Winner emerges at NMS@70 golf tour Chukwueze doubtful for Eagles W’Cup qualifiers Standing tall: Onuachu hits brace in Trabzonspor win Garba picks 19 Eaglets for U-17 AFCON qualifiers

 

Most Read Rangers International going, going . . . (53,839 views) Amaju Pinnick: A cat with nine lives (44,830 views) Second Term: Amaju Pinnick, Other NFF Heavyweights Home to Roost •How Pinnick Broke the Jinx (42,985 views) Missing $150,000 IAAF Grant: Solomon Dalung’s Hide and Seek game (42,642 views) Sports Development: Zenith Bank on the zenith (42,423 views) Gov. Abdullahi Ganduje’s solid footprints, commitment to sports development in Kano State (42,307 views) Current issues in Nigerian sports: Matters arising (42,210 views) NFF Presidency: Pinnick, Maigari, Ogunjobi, Okoye in Battle for Supremacy (41,678 views) Olopade, BET9A wave of revolution in NNL (40,692 views) Commonwealth Games 2018: Shame of Muhammadu Buhari, Solomon Dalung (39,697 views) Ibrahimovic’s Man U exit: Whose decision is it? And in whose interest? (38,066 views) John Mikel Obi: Segun Odegbami’s Outrageous Call! (37,621 views)

 

Phone numbers

Tel: +234(0)8066020976
+234(0)8055068145
+234(0)7013416146
+234(0)8094272884

Email addresses

info@dailysportsng.com
support@dailysportsng.com
publisher@dailysportsng.com

Office address

No 3, Adetoun Close, Off College Road, Ogba, Ikeja Lagos.
Website: www.dailysportsng.com

Social Media