AMANDA STAVELY has reduced her stake in the club
According to the Chronicle, Newcastle United co-owner Amanda Staveley has reduced her stake at St James' Park but remains one of the figureheads behind the scenes.
The Ripon financier's stake has gone down from 10% to 6% since the original takeover in October 2021. The change means that the Reuben family - with Jamie Reuben the visible director at the club - has gone up to 14%.
Newcastle's main benefactors remain Saudi Arabia's Public Investment Fund who have an 80% stake at St James' Park. The recent annual accounts showed that Staveley was handed £659,000 of club funds for legal fees in August last year and £600,000 in November the year before.
Club sources stated this month that they were unable to state what the funds were for but any loans will be repaid. Cantervale, Staveley’s company, was paid £312,000 for advisory services in the year to July 2023. It was also paid £937,500 in 2022.
The accounts also state: "The Group has also paid £625,000 to Cantervale Limited during the year which will be refunded subsequent to the balance sheet date."
Staveley was one of the central figures during the club's Amazon documentary and was involved in board meetings, player sales and sponsorship negotiations. And that day-to-day involvement is set to continue with the director currently overseeing the club's difficult January and the downturn in Premier League form.
Staveley has championed the football club at every turn and wants to see it succeed on the pitch. In the wake of the Carabao Cup final, the financier boldly predicted the Magpies would end their trophy hoodoo in the coming years.
"We will win the Carabao Cup, we will win the FA Cup, we will the Champions League and we will win the Premier League. This is all about the amazing fans that have taken us on this journey, and we're just honoured and humbled and feel very privileged to help run Newcastle United," she said.
