Newcastle United, the English Premier League club, has started talks with The Bellagraph Nova Group (BNG) about an imaginable takeover offer, the Singapore-backed company said in a statement.
BNG, co-founded through Singaporean investors Evangeline Shen, Nelson Loh and Terence Loh, and founded in Paris, said the negotiations were of a complex level and that the organization was in a position to “massively contribute” to the development of the club.
“The founders of Bellagraph Nova Group (have) already a letter of intent (letter of intent) as well as budget evidence on August 10,” BNG said.
“In addition to its commitment to Newcastle Football Club and the community, the Bellagraph Nova Group has captain Alan Shearer and former player Michael Chopra in England.
BNG owns 31 entities and generated profits of about $12 billion last year, on the company’s website.
The organization added that discussions with Newcastle owner and British businessman Mike Ashley had taken up position in days and were ongoing.
Newcastle’s acquisition of three hundred million pounds ($393 million) through a Saudi-backed consortium collapsed last month after the organization announced that it had ended its interest in the deal, which was delayed through control of Premier League owners and directors.
Premier League executive leader Richard Masters said last week that the group, which included Saudi Arabia’s sovereign wealth fund, PIF, had refused to settle for the Premier League’s independent arbitration offer to who would own the club.
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