It has been reported that Newcastle United have held talks with an investor group in Singapore over a possible takeover of the club. The Bellagraph Nova Group BNG, which is owned by Singapore-based investors Terence Loh, Nelson Loh, and Evangeline Shen with its headquartered in Paris France said conversations were in advanced stages.
Bellagraph Nova Group’s founders have provided a Letter of Intent as well as proof of funds on the 10th of August a statement said. A 300 million pound Saudi Arabian-backed consortium takeover fell last month after the Saudi group said it was no longer interested in the deal following a delay by the Premier League’s owners and directors test.
Human rights campaigners criticized the Saudi-backed bid, with questions of illegal broadcasts of Premier League games in the region. Last week, Richard Masters Premier League chief executive in a statement said the Saudi group, refused to take up the Premier League’s offer of independent arbitration to decide who would own the club.
With new interests by the Singapore backed group, negotiations will take place in the coming days.
