A source close to the Bellagraph Nova (BN) Group has given some insight into their proposed takeover of Newcastle United.
According to the Daily Mirror, the source revealed that they are “still discussing all terms” in terms of their bid and showed the outlet the details of the 31 companies that make up their empire, which includes 23,000 employees.
Will the BN Group be successful in their Newcastle takeover bid?
The consortium say they are huge in the healthcare industry with 250 clinics, leaders in the provision of Personal Protective Equipment (PPE) with, for instance, 330 million boxes of gloves that have since been sold to the United States government.
They also claim to lead in the robotics industry, and want to also diversify into sport and thus “have a presence in the football business”.
Their bid of £280 million was lower than the original £300 million that the Kingdom of Saudi Arabian (KSA) group, which consists of the Middle Eastern crown prince Mohammed bin Salman (MbS), his country’s Public Investment Fund (PIF), the businesswoman and head of PCP Capital Partners Amanda Staveley and the billionaire London-based Reuben brothers, but the BN Group claim that they did this so that they could have more money available to spend on “top level players”.
Indeed, it is a brave move by the consortium, 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.
The KSA group withdrew their own bid after growing increasingly frustrated with just how long it was taking the Premier League and its chief executive Richard Masters to approve of the deal, so perhaps the Singapore consortium will have to be more patient if they wish to get their takeover over the line.
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