Singapore Investors Linked With Fresh Newcastle Takeover Attempt

A Singapore-based private equity firm are interested in buying Newcastle United after the controversial Saudi-led takeover broke down, according to reports.

The Magpies were previously subject to interest from a consortium consisting of Saudi Arabia's Private Investment Fund, the Reuben Brothers and businesswoman Amanda Staveley.

However, after being asked to go through an independent tribunal process by the Premier League, their bid was withdrawn. This came after a lengthy period of silence by both sides and Newcastle fans reacted angrily to the takeover falling through.

Magpies fans will be offered some solace by reports suggesting that a new set of investors is interested in purchasing the club. According to the Shields Gazette, Far East businessmen Terence Loh and Nelson Loh are readying a takeover bid.

The cousins and business partners are based in Singapore, founding the DORR Group after leaving their roles as investment bankers at JP Morgan. They have stakes in a wide array of industries including technology, new media and healthcare and are, supposedly, keen sports fans.

They are currently involved heavily in motorsports and also sponsor the St Michael's Soccer Association in Singapore. They are now seemingly ready to step up their involvement in football by making a ploy to takeover at Newcastle.

Current Magpies owner Mike Ashley is understood to still harbour hopes that the Saudi deal can be resurrected. If this is not possible then DORR Group would be frontrunners to acquire the £300m-valued club, but there is also rumoured interest from other parties.

American media tycoon Henry Mauriss - currently the CEO of Clear TV - has also been touted as a potential investor, although no concrete offer has materialised yet.

Despite the positive news, Newcastle fans are unsurprisingly treating the latest development in this never-ending sag with scepticism as they have been let down on so many occasions previously.

Source : 90min