Newsletter

Get your daily update and weekly newsletter by signing up today!

News

Proof of funds have been given to Mike Ashley for Newcastle United takeover – Bellagraph Nova statement

1 month ago
Share

Could the Newcastle United takeover finally be set to happen?

As fans we have learnt (to our cost) not to get our hopes up about Mike Ashley leaving, especially the draining saga regarding the Saudi PIF backed bid for NUFC.

However, the Bellagraph Nova Group (BNG) are very bullish that their bid is serious and indeed progressing.

BNG say that talks have taken place with Mike Ashley and his people, with those talks still ongoing.

In a statement to Channel News Asia, BNG say that they provided proof of funds to Mike Ashley as well as a Letter of Intent.

BNG Statement to Channel News Asia:

“Bellagraph Nova Group’s founders have provided a LOI [Letter of Intent], as well as a Proof of Funds which was given on 10 August.

“In addition to the engagement to the Newcastle United Football Club and community, Bellagraph Nova Group enlisted the help of England captain Alan Shearer and former player Michael Chopra.

“BNG’s founders have declared their willingness to massively contribute to the development of the club through their solid and international structure and a combined business and sport devoting mindset.”

BNG was co-founded by Singapore based cousins Nelson Loh and Terence Loh and Evangeline Shen.

The company has 23,000 employees and a turnover of $12billion in 2019 according to their official website.

Newcastle United desperately need new ambitious owners and to start regaining the ground lost under 13 years of Mike Ashley.

Less than four weeks until the 2020/21 season kicks off, we are at day 22 of the transfer window and not a single player brought in during this window so far. Only new third choice keeper Mark Gillespie signed on a free a few weeks before the window opened.

Whether BNG can be the one to finally replace Mike Ashley remains to be seen.

Share

If you would like to feature on The Mag, submit your article to [email protected]

Have your say

© 2020 The Mag. All Rights Reserved. Design & Build by Mediaworks