Three Singaporean entrepreneurs behind a Paris-based conglomerate say they are in advanced talks to buy Premier League club Newcastle United, just weeks after a Saudi Arabia-backed bid was withdrawn.
Bellagraph Nova Group, which operates in 100 countries with a portfolio ranging from finance to luxury goods, said it had sent a letter of intent and proof of funds for the purchase to the club on August 10.
"We are already negotiating the term of our acquisition of Newcastle Football Club. We are at the advanced stage of the purchasing," a Bellagraph Nova Group spokesman told AFP.
The group said that it has "enlisted the help" of Newcastle legend and former England striker Alan Shearer to push through with the purchase, as well as another former Magpies striker, Michael Chopra.
News of the bid comes just weeks after a Saudi Arabia-backed consortium, which included the Saudi Public Investment Fund, PCP Capital Partners and billionaire brothers David and Simon Reuben, had reportedly struck a £300 million ($391 million) deal to buy the club from unpopular owner Mike Ashley in April.
The Saudi fund, chaired by Crown Prince Mohammad bin Salman, had been set to take an 80 per cent stake under the proposed deal before the bid was withdrawn, after months of waiting for Premier League approval.
The collapse of the proposed takeover left many Newcastle supporters crestfallen at the thought of the club remaining in the ownership of Ashley, the British billionaire who purchased the club in 2007, whom they accuse of chronic under-investment.
Bellagraph Nova Group was co-founded by Singaporean cousins Nelson and Terence Loh and their business partner Evangeline Shen in 2008.
The Lohs are former investment bankers at JP Morgan, and are known to be keen sports fans.
The company'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/sport devoting mindset", the spokesman added.
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Newcastle 2019/20 player ratings
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NEWCASTLE UNITED 2019/20 RATINGS: MANAGER: Steve Bruce - 6 out of 10: A really tough one to mark. Took on the thankless task of replacing the immensely popular Rafa Benitez in the hotseat with the hugely unpopular owner Mike Ashley still in charge. Ultimately, he did exactly what Ashley wants from his managers - he kept the club safely in the top-flight. He also steered Newcastle to their first FA Cup quarter-final since 2006. EPA -
GOALKEEPERS: Martin Dubravka - 8: To say it's been a busy season for the Slovakian would be an understatement. Made the most saves out of any Premier League keeper - 140 - and without many of these stops, Newcastle would be heading back down to the Championship. A few blunders along the way, but to be expected when left exposed so regularly. Named as club's player of the year. AP -
Karl Darlow - 6: Back-up restricted to cup competitions with Dubravka firmly established as No 1. AFP -
DEFENDERS: Fabian Schar - 6: The versatile Swiss endured a miserable restart and struggled badly for any sort of consistency. Shifted into midfield by Bruce which failed to pay off, then saw his season ended by a dislocated shoulder. Getty -
Florian Lejeune - 5: Another injury-ravaged, soul-destroying season for the French centre-half, managing just eight appearances in all competitions. AFP -
Paul Dummett 5: Local lad and another defender whose season has been decimated by injury. Not played since January. AFP -
Jamaal Lascelles - 6: Club captain will never give less than 100 per cent and Newcastle certainly felt more organised when he plays but can look slow and cumbersome at times - see lack of footwork for opening West Ham goal in home draw after restart. Could miss the start of next season after undergoing an ankle operation. AFP -
Emil Krafth - 5: Swedish right-back looked completely unsuited for the rough and tumble world of England's top-flight after arriving in a £5 million (Dh23.6m) deal from French side Amiens last summer. Barely played for middle part of season but did OK when brought back into team after restart. Was completely out of his depth when forced to play in a central defensive role due to injuries. AFP -
DeAndre Yedlin - 5: American full-back has started just 12 games in all competitions this season and looks set for the exit after four seasons at the club. AFP -
Ciaran Clark - 6: Another injury-blighted season and another big miss at the back for Newcastle. Just 14 league appearances for the experienced Irish centre-half. AFP -
Jetro Willems - 6: Wing-back on loan from Eintracht Frankfurt saw his time cruelly ended by a serious knee injury in January. Form had been erratic at times but had shown flashes of quality. AFP -
Federico Fernandez - 7: The last fit senior centre-half still standing by the end of the season as his defensive colleagues fell to injuries one after the other. A solid season overall form the Argentine, particularly after restart. EPA -
Javi Manquillo - 6: Spanish full-back has made himself an invaluable player for Newcastle this season - probably his best since joining the club in 2017 - covering ably down both flanks. Another shifted uncomfortably into a central defensive role due to the late season injury avalanche. Getty -
Danny Rose - 6: Signed on loan from Spurs in January and has been solid if unspectacular. Newcastle desperately need a left-back and Jose Mourinho certainly doesn't want him at Tottenham, but at 30-years-old, he would appear to be too old for the Mike Ashley signing criteria. PA -
Jonjo Shelvey - 8: A good season from the midfielder who, embarrassingly for Newcastle, finished as second-top scorer with six goals. A wonderful passer who also puts in a shift for the team. Getty -
Allan Saint-Maximin - 8: A very exciting talent, signed for around £16m last summer, who stepped up a level after the restart. Can be virtually unplayable for opponents when in full flow but needs more consistency, more composure in front of goal and better final product if he wants to reach the very top. Immense potential, though. Getty -
Matt Ritchie - 7: A frustrating season for the winger/wingback due to injury but a whole-hearted player who will always give 100 per cent. Ended his scoring drought with fine goal against Spurs after the restart. Getty -
Isaac Hayden - 7: Newcastle always feel a stronger outfit with Hayden sitting in front of the defence winning tackles and keeping things simple with the ball. Getty -
Christian Atsu - 5: Winger has barely featured under Bruce, barring sporadic substitute appearances, and is set to leave the club this summer. AFP -
Valentino Lazaro - 5: A frustrating time for the January loan signing from Inter Milan who was never given a run in the team by Bruce. Flashes of potential - excellent goal after coming on as substitute in the 4-1 win at Bournemouth, when also cracked the crossbar with a fierce strike - but not clear what is the midfielder's best position. Getty -
Sean Longstaff - 6: Another facing a crucial season in his career. Local boy who has struggled for form and fitness this season but has the potential to become a first-team regular. Getty -
Nabil Bentaleb - 5: The former Spurs midfielder was a huge disappointment after joining on loan from German side Schalke in January. The odd flash of quality but did not do enough to justify a permanent move. Getty -
Matty Longstaff - 6: The 20-year-old brother of Sean looks set for a move to Italy after refusing to sign a new deal at the club, much to the frustration of manager Bruce. Scored fairy-tale winner against Manchester United on his Premier League debut in October but failed to kick-on from that early high. PA -
Miguel Almiron - 7: Pacey midfielder who finally ended his goal drought this season and finished as Newcastle's top scorer with eight. A big season coming up for the Paraguayan - his third in England - where, like Saint-Maximin, needs to show more composure with his final ball. Still unclear what his best position is. Reuters -
ATTACKERS: Andy Carroll - 5: A frustrating return to Tyneside for the big striker. Like the story of his career as a whole, has been hindered by a series of niggling injuries and is still awaiting his first goal since rejoining last summer. Can feel rightly aggrieved, though, that he wasn't given more of a run as Bruce stuck by the misfiring Joelinton. Getty -
Joelinton - 4: An absolute disaster of a first season in England for the club-record signing from Hoffenheim. Given the famous No 9 shirt but is clearly unsuited to lead the line. Four goals all season - and just two in the league in 32 starts - and needs a miraculous change in form and fortune if he join the list of Newcastle attacking greats. Getty -
Dwight Gayle - 6: A prolific striker in the Championship who struggles to repeat the feat at the top level. Still looked a more natural finisher than Joelinton and contributed three goals after the restart. Getty -
Yoshinori Muto - 4: A reminder that poor signings were made under Benitez's reign as well. The £9.5m signing in the summer of 2018 has made two league starts all season and scored one goal - against Leicester in the League Cup. AFP
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Reports of Shearer's links with the Bellagraph Nova Group bid will undoubtedly lead to speculation about manager Steve Bruce's job prospects.
Bruce, 59, was a far-from-popular replacement for Raphael Benitez when named as the Spaniard's successor in July 2019 but guided the club to a respectable 13th-placed finish in the Premier League last term.
Shearer, who scored more than 200 goals for his boyhood club, briefly managed the Magpies on a caretaker basis in April 2009 but failed to save them from relegation to the Championship.
Bruce and Shearer are known to be close, and the latter has yet to comment on reports he is involved in the Bellagraph Nova Group bid.
Bellagraph Nova Group said it oversees 31 businesses worldwide, with 23,000 employees and a group revenue of $12 billion in 2019.
In its proposal, the company said it has "the necessary experience and resources to accelerate Newcastle United's growth and realise its full potential".
No financial details of the proposal were given, but Ashley is known to be holding out for at least the £300m the Saudi fund and its associates had bid to take control of the club.
