Everything About the Impending Purchase of EPL Club Newcastle by S’poreans Simplified for You

By
Shawn Ambrose
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If you’re an ardent fan of football, you’ll be familiar with the crushing sadness that comes after watching your team lose.

As former Liverpool manager Bill Shankly said: “Some people believe football is a matter of life and death, I am very disappointed with that attitude. I can assure you it is much, much more important than that.”

To deal with the pain of loss, we often look for a scapegoat to blame and berate for our team’s inadequacies.

Sometimes it’s the manager and other times it’s the players, but more often that not, it’s the owners. 

The owners are in charge of running your beloved football club, and if they’re not spending 500 million every year to bring new, talented players into the club, they’re doing something wrong.

Image: Giphy

Many football fans hate their club’s owners, but nothing can compare to the pure loathing that Newcastle fans have for their owner, Mike Ashley.

Image: (PA)

Newcastle fans have been clamouring for new owners for over a decade now, to no avail. After a proposed takeover last month fell through, it seemed like all hope was lost.

But Bellagraph Nova group has given fans reason to believe once again.

Singaporean Entrepreneurs Looking to Buy Newcastle

The three co-founders of the Bellagraph Nova group, including local entrepreneurs Nelson Loh and Terence Loh, have put in a bid to purchase English Premier League club Newcastle United.

The group, which was founded by Evangeline Shen, confirmed that it is working out details of an acquisition with the club, reported CNA.

“Bellagraph Nova Group’s founders are at an advanced stage of negotiation having already provided a LOI (Letter of Intent) as well as a Proof of Funds on Aug 10,” the group said.

They added that they’ve enlisted the help of England captain and Newcastle legend Alan Shearer – something that will likely please many fans – as well as former player Michael Chopra.

Image: These Football Times

“BN (Bellagraph Nova) Group’s founders have declared they’re willing to massively contribute to the development of the club through their solid and international structure and a combined business/sport devoting mindset”, they said.

Group is Worth US$12 billion

As you know, buying a football club isn’t like purchasing a toaster from Amazon; you have to be incredibly, incredibly rich.

Image: Giphy

According to its website, the group is a US$12 billion multinational company that has 31 entitles across 100 countries.

As previously mentioned, the group was co-founded by Terence Loh and his cousin Nelson Loh, as well as Evangeline Shen.

Image: BN Group

The group was formed in June after a merger between the DORR group and the Bellgraph group.

It boasts an international presence in all major commercial sectors, such as luxury, technology, financial services, real estate, and robotics, according to CNA.

The Loh cousins also founded Singapore-based Novena Global Lifecare in 2010.

Why Do Newcastle Fans Hate Their Owner?

Fans of Newcastle have had a long and toxic relationship with their owner Mike Ashley. Their troubles started when it was revealed that a popular manager, Kevin Keegan, had resigned after the club bought a player against his wishes.

And it all went downhill from there.

Unwarranted manager sackings, inexplicable appointments, and even renaming the stadium have all contributed to the strained relationship between Ashley and the fans.

Last month, a £300 million (SS$538.2 million) bid funded by Saudi Arabia’s Public Investment Fund (PIF) to buy the club fell through, after being scrutinised by the Premier League.

Newcastle fans will be hoping and praying that the same thing doesn’t happen this time.

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Shawn Ambrose
Email: [email protected]