Newcastle United announce bombshell exit with sale imminent

admin | July 10, 2024 | Other Clubs | No Comments

Amanda Staveley and Mehradad Ghodoussi’s association with Newcastle is expected to come to an end after three years

Newcastle United co-owners Amanda Staveley and Mehrdad Ghodoussi have made the shock decision to leave the club after three successful years at St James’ Park.

Staveley, 51, was a catalyst for the Saudi Arabia Public Investment Fund’s (PIF) purchase of an 80 per cent stake in Newcastle for £300m back in 2021, and she played a key role in orchestrating negotiations with former owner Mike Ashley as his 14-year tenure as owner came to an end.

As the deal was completed, Staveley Cantervale Holdings acquired a 10% stake in Newcastle following the club’s and Jamie Reuben’s RB Sports & Media the remaining 10%. Staveley’s stake was later reduced to 6% and then 5.7% with Reuben’s share increasing to 14.3%.

Staveley and her business partners completed their takeover of the Magpies at a time when they were 19th in the Premier League table and winless in October under former boss Steve Bruce. She ambitiously predicted that Newcastle could win the Premier League in five years time and within just 18 months and had helped oversee the club’s return to the Champions League after a 20-year hiatus.

However, according to various reports, including The Shields Gazette, Staveley and her husband Ghodoussi’s time in the North East has come to an end and it is expected that one or both of PIF and RB Sports & Media will purchase the remaining stake with a statement from the club expected in the near future.

Despite her minority stake, Staveley has been a key figure behind the scenes at Newcastle and has mainly been seen as the main line of communication between the ownership and supporters alongside Ghodoussi. Particularly in the We Are Newcastle United Amazon series which went behind the scenes to show what life in the boardroom is like.

Staveley was the main voice behind the prolonged takeover process in the months prior to its completion and also recently played a major role in securing midfielder Joelinton’s future as he agreed a new four-year deal following contract discussions.

Newcastle have largely been on an upwards trajectory since Staveley’s arrival at the club and in the first 18 months under Eddie Howe, thanks to the signings of Bruno Guimaraes, Kieran Trippier, Sven Botman, Nick Pope, Alexander Isak and Anthony Gordon were able to qualify for the Champions League whilst also reaching their first major cup final since 1999 under Ruud Gullit.

Last season the club was involved in a number of famous nights such as a 4-1 victory over PSG, a 5-1 win over Aston Villa, a 4-0 triumph over Tottenham and 1-0 wins over both Arsenal and Manchester United. But the club’s progress was hampered slightly by injury-issues and the long-term suspension of Sandro Tonali, leading to a seventh place and no European football next term.

Staveley’s reported intent to sell her stake comes after the club’s latest accounts confirmed that £1.2million had been loaned to the 51-year-old. A £600,000 interest-free loan was made in November 2022 for legal fees which remained outstanding at the end of June 2023. A further £659,056 was then loaned on 31 August 2023. Senior club sources stated that the loans will be repaid in full.

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