Three Singaporean entrepreneurs behind a Paris-based congolomerate are in “advanced” talks to buy English Premier League football club Newcastle United, the company said Monday, just weeks after a Saudi-backed bid was withdrawn.

Bellagraph Nova Group, which operates across 100 countries in fields ranging from finance to sport, healthcare and luxury goods, said it has given Newcastle a letter of intent and proof it has funds for the purchase.

The company also said it had “enlisted the help” of former England captain and Newcastle legend Alan Shearer, along with fellow former player Michael Chopra.

The bid was announced after a Saudi-backed consortium withdrew its offer to buy Newcastle in late July, after months of waiting for Premier League approval.

“We are already negotiating the term of our acquisition of Newcastle Football Club. We are at the advanced stage of the purchasing,” a Bellagraph Nova Group spokesman told AFP.

Bellagraph Nova Group was co-founded by Singaporean cousins Nelson and Terence Loh and their business partner Evangeline Shen in 2008.

The Lohs are former investment bankers at JP Morgan, and are known to be keen sports fans who sponsored Singaporean racing driver Yuey Tan as well as the national muay thai team, the Straits Times newspaper said.