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.
Watch more of our videos on Shots! 
and live on Freeview channel 276
Visit Shots! now

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”.

Read More
Who are Terence and Nelson Loh?
Hide Ad
Hide Ad

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.

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.

St James's Park.St James's Park.
St James's Park.
Hide Ad
Hide Ad

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

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.

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.Michael Chopra, left, with Badara Ndiaye.
Michael Chopra, left, with Badara Ndiaye.
Hide Ad
Hide Ad

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.

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

A message from the the football team:

Premier League chief executive Richard Masters.Premier League chief executive Richard Masters.
Premier League chief executive Richard Masters.

With the coronavirus lockdown having a major impact on many of our advertisers - and consequently the revenue we receive - we are more reliant than ever on you taking out a digital subscription.

We are committed to bringing you the best Newcastle United news, opinion and coverage, but need your support to keep producing stories like this one.

Subscribe to the Shields Gazette website and enjoy unlimited access to local news and information online and on our app. With a digital subscription, you can read more than 5 articles, see fewer ads, enjoy faster load times, and get access to exclusive newsletters and content. Visit here to sign up. Thank you.