A new combined entity that goes by the name Bellagraph Nova (BN) Group has made a formal move to takeover Mike Ashley’s Newcastle United.
The group co-founded by Evangeline Shen and the Loh cousins, Nelson and Terence, is a merger between Bellagraph Group and DORR Group.
With a combined revenue of more than US$12 billion, the BN group has submitted proof of funds and also a letter of intent to Mike Ashley to invest in both the city and local community if their bid is successful. The powerful group are also willing to massively contribute towards the development of the club by their investments.
Although the bid is genuine and the group means business, Newcastle United fans will be hesitant to get carried away after what they have witnessed in the past five months.
Reports of the takeover by the BN group comes days after Saudi Arabia’s Public Investment Fund (PIF), PCP Capital Partners and Reuben Brothers pulled out of a lucrative takeover at the end of last month.
The potential takeover from the Bellagraph Nova (BN) Group is still in its early stages as the group is waiting back to hear from Mike Ashley and his lawyers.
NUFC fans will be deeply rooting for this takeover by the Singaporean business tycoons to finally end the years of misery under ownership of Mike Ashley who was reluctant to invest heavily in the club.
Check out a photo of the trio behind the Bellagraph Nova Group who can be the potential owners of Newcastle United after failed Saudi takeover –