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Amanda Staveley resigns from 20 Newcastle companies after stake is reduced

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Newcastle United FC News

Eddie Howe,English Premier League,Tottenham Hotspur FC

The business executive's stake in the club was diluted following cash injections by the Saudi Public Investment Fund and the Reuben family.

Amanda Staveley has resigned from dozens of Newcastle companies months after the Saudi takeover of the club.

She was ordered by a judge to pay Greek tycoon Victor Restis £3.4m owed from an investment he made in her businesses by next week. The hearing judge said her witness statement ventured "into the realm of fantasy and completely implausible" and said claiming a business deal was struck under duress had a "complete lack of credibility."

This comes after fellow investors contributed her portion of a cash injection, following the deal she brokered which saw 80 percent of the club taken over by Saudi state ownership, reports the Mirror. She also initially held a 10 percent stake for herself.

Eddie Howe English Premier League Tottenham Hotspur FC

 

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