Newcastle owner Mike Ashley has reportedly declared he will not enter talks with potential buyers of the club until they have been vetted by his lawyers.
A statement from BNG read: “Bellagraph Nova Group’s founders (have) already provided a LOI (Letter of Intent) as well as a proof of funds on August 10.
“In addition to the engagement to the Newcastle Football Club and community, Bellagraph Nova Group enlisted help of England captain Alan Shearer and former player Michael Chopra.”
The bid is short of the price the Saudis had agreed with Ashley and he is likely to want their figure matched.
According to the Daily Mail, Ashley has instructed his lawyers at Dentons to investigate any credible offers made before presenting them to him.
A statement from BNG read: “Bellagraph Nova Group’s founders (have) already provided a LOI (Letter of Intent) as well as a proof of funds on August 10.
“In addition to the engagement to the Newcastle Football Club and community, Bellagraph Nova Group enlisted help of England captain Alan Shearer and former player Michael Chopra.”
The bid is short of the price the Saudis had agreed with Ashley and he is likely to want their figure matched.
According to the Daily Mail, Ashley has instructed his lawyers at Dentons to investigate any credible offers made before presenting them to him.
The report says as many as 50 enquiries have been made regarding the purchase of Newcastle.
Meanwhile, Newcastle have announced Freddie Woodman has signed a new three-year contract and will spend another season on loan at Swansea.
Woodman was an ever-present for the Swans in the Championship before a hip injury meant he was unable to play in the play-offs.
The 23-year-old is highly regarded at St James’ Park but with Martin Dubravka, Karl Darlow and Mark Gillespie ahead of him, he will return to the Liberty Stadium to continue his development.
He told NUFC TV: “It’s great news for me – I can look towards the future and see myself as a Newcastle player. It’s great for the club to commit to me and I can stay there another three years, which is huge.
“I see myself as a Newcastle player and my ultimate goal is to be the Newcastle number one, so hopefully I can do that.”