According to BBC, the Bellagraph Nova insists it is pushing ahead with its bid to buy Newcastle United, with the group co-founder Evangeline Shen claiming her team is in regular contact with the St. James’ Park outfit.
Saudi Arabia’s Public Investment Fund withdrew their £300 million bid to buy the Magpies in August after the Premier League’s Owners’ and Directors’ Test frustrated them, and the Bellagraph Nova group stepped in with a £280 million offer.
However, there have been plenty of doubts over the group’s credibility after it emerged that it photo-shopped a picture of its three founders meeting with former US President Barack Obama.
The Singaporean-backed firm is based in Paris, France, and there are inconsistencies about its assets and real worth, and some believe its proposed Newcastle bid is nothing but a stunt.
Shen insists concrete plans are in place to buy the club, though, telling the BBC that her team met with the representative of Toons owner Mike Ashley last week in order to close the deal.
While nothing has been heard of its Newcastle takeover of recent, the Bellagraph Nova group director claims real planning for whom to appoint as manager and which players to sign once there is a change of ownership is ongoing.
However, it remains to be seen whether a firm whose entities are not publicly listed on any stock exchanges and whose claims about revenues (£9.3 billion in 2019) and employees (23,000) cannot be easily verified should be taken seriously.