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Keith Downie: Bellagraph Nova Group bid £280m to buy Newcastle United

Newcastle United boss Steve Bruce during interview

Image source: Getty Images

Singapore-backed Bellagraph Nova Group have made a £280m offer for Newcastle United takeover, Sky Sports journalist Keith Downie has confirmed. BNG claimed it has held talks with Mike Ashley’s side over the possible takeover of the club.

Downie wrote on Twitter: “Still big question marks regarding Bellagraph Nova’s claims they’ve bid £280m to buy NUFC. I’m always sceptical of anything that’s made public so freely & quickly. But Mike Ashley’s lawyers hav held talks with BN, and I’ve seen documentation that supports their claims.

“The docs contain £280m offer, letter of intent, and 29-page document with detailed financials. However that £280m offer falls short of what Ashley values the club. NUFC have yet to formally react.”

 

 

 

BNG, co-founded by Singapore-based investors Evangeline Shen, Nelson Loh and Terence Loh, and headquartered in Paris, said that negotiations were at an advanced stage.

A statement from BNG read: “Bellagraph Nova Group’s founders (have) already provided a LOI (Letter of Intent) as well as a proof of funds on August 10. In addition to the engagement to the Newcastle Football Club and community, Bellagraph Nova Group enlisted help of England captain Alan Shearer and former player Michael Chopra.”

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