Exclusive: Powerful group lodges formal takeover bid for Newcastle United

A formal bid for Newcastle United has been lodged by the powerful Bellagraph Nova Group – with Michael Chopra involved in the takeover attempt.

The Gazette revealed earlier today that Far East businessmen Terence and Nelson Loh were in talks over a bid for the club.

A senior figure has now told the Gazette that the BN Group, co-founded by Evangeline Shen and the Lohs, is “willing to massively contribute to the development of the club”.

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Who are Terence and Nelson Loh?

The multi-national company, which also intends to invest in the city and local community, is now waiting to hear back from owner Mike Ashley and his lawyers.

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David and Simon Reuben – who were to take a 10% stake in the club – remain committed to the bid.

The Premier League was criticised after it failed to make a decision on the proposed £300million takeover, submitted in April.

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St James's Park.

An online petition demanding an independent review of the takeover process has been signed by 109,000 fans amid anger on Tyneside.

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And it is against this backdrop that the BN Group this week sent a letter of intent to Ashley, who put the club up for sale in late 2017.

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The Gazette understands that all the paperwork required at this stage, including proof of funds, has now been lodged with Ashley’s lawyers. The group is ready to pay a non-refundable deposit of £250,000 to access the club’s “data room”.

Michael Chopra, left, with Badara Ndiaye.
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Former United striker Chopra – who had a series of meetings at the BN Group’s headquarters in Paris this week – is fronting the bid.

The BN Group, which describes itself as a “leading player on the world stage”, has investments in 100 countries, and last year posted a global revenue of more than £9billion.

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It has investments in a number of sectors, including property, medicine, financial services and entertainment.

A message from the the football team:

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Premier League chief executive Richard Masters.

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