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New Singapore bidders in talks to buy Newcastle United – Report

9 months ago

Saturday morning has seen an ‘exclusive’ naming new Singapore bidders who are reported to be in talks to buy Newcastle United.

Terence Loh and Nelson Loh are said to have held talks (via a broker) with Mike Ashley’s people.

The ‘exclusive’ has come from the Shields Gazette and they say the two cousins are interested in stepping in now, with the seemingly immovable obstacles to the Saudi PIF bid.

The report says that the cousins are also business partners, owning the private equity firm the DORR Group which they report is involved in technology, new media and healthcare.

The newspaper say their sources have told them that Mike Ashley and his people haven’t yet reached the stage of seeing proof of funds.

The report claims that Ashley’s preference is still to get the Saudi PIF consortium deal completed.

However, whilst Friday brought plenty of action in terms of a letter made public from Richard Masters and the Premier League, as well as follow up statements / comments from the Mike Ashley and Saudi PIF camps, there seemed nothing to indicate that any progress had been made or even attempted, in terms of resurrecting the deal.

The Shields Gazette say that over the course of the past three weeks a number of meetings have taken place, with Terence Loh and Nelson Loh pulling together investors in the Far East interested in helping to finance a Newcastle United takeover.

The report says the next step would be a formal offer to buy Newcastle United and it remains to be seen whether this happens, however, they (Shields Gazette) insist that the interest is genuine.

The cousins do have one thing in common with Mike Ashley, a love of casinos, their decision to leave jobs at JP Morgan and form the DORR Group decided on the spin of a roulette wheel.

For Newcastle fans, supporting the club is feeling like an endless losing streak at this moment in time.

Who knows if this latest ‘exclusive’ will prove to have any substance, at least though it sounds more credible than the Henry Mauriss ‘bid’ that certain journalists continue to push.


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