Singapore investors want to buy Newcastle United hinh anh 1Mr Terence Loh and Mr Nelson Loh are co-founders of Bellagraph Nova Group (Photo: The Straits Times)

Singapore (VNA) - Singaporean entrepreneurs Terence Loh and Nelson Loh are now spearheading a bid to take over the English football club Newcastle United.

The cousins are co-founders of Bellagraph Nova (BN) Group, which owns over 30 entities across 100 countries in major business spheres, including finance, sports, healthcare, luxury goods, entertainment and robotics. The Paris-based group is worth an estimated 12 billion USD.

Bellagraph Nova Group’s founders are at an advanced stage of negotiation after having already provided a Letter of Intent as well as a Proof of Funds earlier this month, said the group’s statement released on August 15.

The group also enlisted help of England captain Alan Shearer and former player Michael Chopra.

Last month, a proposed Saudi takeover for Newcastle United collapsed. If the business deal is sealed, the cousins will become the first Singaporean billionaires to own an English football club./.