The Bellagraph Nova (BN) Group have offered Mike Ashley £280m to take over Newcastle United, according to The Shields Gazette.
As per the outlet, the group – which was co-founded by businesswoman Evangeline Shen and Singaporeans Nelson and Terence Loh, and brought to the table by former Magpies striker Michael Chopra – have offered less than what the original Kingdom of Saudi Arabian (KSA) consortium had put forward to take over at St. James’ Park.
Will the BN Group be successful in their Newcastle takeover bid?
Indeed, the Saudi-led consortium, which consisted of Middle Eastern crown prince Mohammed bin Salman (MbS), his country’s Public Investment Fund (PIF), head of PCP Capital Partners Amanda Staveley and the billionaire London-based Reuben brothers, agreed a £300m deal with Ashley.
However, they decided to withdraw themselves from the process after growing increasingly frustrated with how long it was taking for the Premier League and its chief executive Richard Masters to make their final decision.
Ashley is now apparently hoping that he can raise £340m for the Tyneside club. Nevertheless, the BN group have yet to receive official confirmation that their bid has been rejected from Dentons, the law firm dealing with the Sports Direct CEO’s sale of the club.
A source close to the deal has claimed that the ball in his court when it comes to whether Ashley wants to progress it further.
Indeed, the current Toon owner now has a big choice to make, but it may be wise for Ashley to continue to pursue with this deal for now while the other one with the KSA group is not progressing.
Geordies, should the BN Group bid be taken seriously? Comment below with your views!
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