Terence Loh, who allegedly tried to complete a takeover of Newcastle last year, has been declared bankrupt according to a report.
2020 was a wild time for the never-ending Newcastle takeover saga, with not just Amanda Staveley seemingly trying to complete a deal.
In April last year, PCP Capital Partners agreed a deal to buy the club from Mike Ashley.
However, complications emerged when the wannabe owners were subjected to the Premier League’s Owners’ and Directors test.
As cracks appeared to be forming, a new name entered the picture in June 2020 – Henry Mauriss.
It was reported by the Guardian that the American businessman was launching a rival bid, and he too had the cash to take the club off of Ashley’s hands.
In the end, this turned out to be a load of rubbish, and no one has heard from Mauriss since.
Then in August, a month after PIF walked away, another bidder emerged.
Who remembers the Newcastle takeover ‘attempt’ from Terence Loh?
The BNG bid was fronted by former Newcastle striker Michael Chopra, while there were also claims that Alan Shearer was involved. However, this was denied by the club’s record scorer.
BNG were fronted by cousins Terence and Nelson Loh, as well as Evangeline Shen.
The Singapore-based group claimed to have the funds required, and were ready to pay Ashley a deposit.
Fast forward 11 months, and Terence Loh has been declared bankrupt according to the Straits Times.
When rumours emerged of this bid, they seemed fanciful to say the least.
They didn’t feel like genuine bidders who could take the club forward like PCP could – and hopefully will.
In the end, there was no takeover from the Bellagraph Nova Group. And thank goodness.