Amanda Staveley, a co-owner of Newcastle United, sells off further shares in the team as the Reuben family purchases more.
Amanda Staveley, a co-owner of Newcastle United, has decreased her ownership stake at St. James’ Park, although she is still a major player behind the scenes.
The original takeover occurred in October 2021, and the Ripon financier’s interest has decreased from 10% to 6%. With Jamie Reuben serving as the club’s visible director, the Reuben family’s share has increased to 14% as a result of the shift.
Saudi Arabia’s Public Investment Fund, which owns an 80% share at St. James’ Park, continues to be Newcastle’s principal backer. According to the most current annual records, Staveley received £659,000 from the club in August of last year and £600,000 in November of the previous year for legal fees.
This month, club sources said that while they couldn’t disclose the purpose of the funds, any loans made would be reimbursed. In the year ending in July 2023, Cantervale, Staveley’s company, received £312,000 for consulting services. In 2022, it was also awarded £937,500.
The records additionally mention that “The Group has also paid £625,000 to Cantervale Limited during the year which will be refunded subsequent to the balance sheet date.”
During the club’s Amazon documentary, Staveley played a pivotal role in discussions about board meetings, player transactions, and sponsorship agreements. And the director, who is now in charge of the team’s challenging January and the decline in Premier League performance, is expected to stay involved on a daily basis.
Staveley wants to see the football team flourish on the field and has supported them at every opportunity. The financier made a daring prediction during the Carabao Cup final that the Magpies would break their trophy curse in the upcoming years.
“We’re going to win the Premier League, the FA Cup, the Champions League, and the Carabao Cup.” We’re honored, humbled, and feel incredibly fortunate to be involved in the management of Newcastle United. This is all about the incredible people who have supported us throughout this journey,” the woman remarked.