Craig Hope has revealed some insight into Mike Ashley amid the Bellagraph Nova (BN) Group’s bid to take over Newcastle United.
As per the journalist’s tweet, he claimed:
“I’m told Mike Ashley will only negotiate with proposed buyers once his lawyers inform him they are genuine, meaning no contact yet with Singapore group who submitted £280 million offer. I’ve seen docs of bid, but there is caution given it’s also easy publicity.”
I'm told Mike Ashley will only negotiate with proposed buyers once his lawyers inform him they are genuine, meaning no contact yet with Singapore group who submitted £280m offer. I've seen docs of bid, but there is caution given it's also easy publicity https://t.co/6Si7SZynp8
— Craig Hope (@CraigHope_DM) August 17, 2020
Indeed, as Hope confirms, the chief executive of Sports Direct will only negotiate with the consortium, which consists of the businesswoman Evangeline Shen as well as the Singaporean cousins Terence and Nelson Loh, once his own lawyers inform them that they are genuinely looking to buy the Tyneside club.
He also wrote a piece on it for the Daily Mail, the London-based Denton, who are representing Ashley, are acting as a filter for all of those expressing an interest in buying the Magpies, including the BN Group, who have lodged their own £280 million bid.
Will the BN Group be successful in their Newcastle takeover bid?
However, the current owner of the Toon and his trusted right-hand man Justin Barnes will only get involved if Dentons advise that their bid is serious and that the BN Group have the financial backing to complete a possible deal.
Ashley has not yet had any contact with the Singapore group after they submitted their offer, and this may well continue unless his lawyers deem it right to intervene.
However, the offer falls short of the £300 million that the Kingdom of Saudi Arabian (KSA) consortium offered to him originally, and so Ashley would likely reject the bid anyway.
Nevertheless, Hope has given some pretty important details within the deal, and for it to develop it may well be that the buying side will have to up their bid in order for them to be taken seriously by the lawyers.
Geordies, should the BN Group be taken seriously? Comment below!
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