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A pair of wealthy Singapore entrepreneurs has sparked excitement among football fans with a bid for English Premier League club Newcastle United that, if successful, will see them join the growing ranks of Asian business magnates to have a stake in the beautiful game.
Nelson Loh and Terence Loh, who are cousins, together with Evangeline Shen, a China-educated former banker and lawyer, are co-founders of the Bellagraph Nova Group, which on Saturday said it was in an “advanced stage of negotiation” for the takeover of the club, popularly known as The Magpies for their black and white home strip.
“In addition to the engagement to the Newcastle Football Club and community, Bellagraph Nova Group enlisted [the] help of [former] England captain Alan Shearer and former player Michael Chopra,” it said, adding that it had provided a letter of intent and proof of funds.
“We wish to close the deal as soon as possible and do some big things for the club and for the community. We already have the support of many fans.”
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