10 July 2024

Amanda Staveley and Mehrdad Ghodoussi looking to sell Newcastle stake

10 July 2024

Amanda Staveley and Mehrdad Ghodoussi are looking to sell their minority stake in Newcastle, the PA news agency understands.

Staveley was instrumental in brokering the deal for Saudi Arabia’s Public Investment Fund (PIF) to take an 80 per cent stake in the club in October 2021, and along with Ghodoussi held an initial 10 per cent in the Magpies.

That has been diluted down below that initial percentage due to recent equity raisings which the pair have not participated in.

They were very much key in the club’s day-to-day running after the Saudi-led takeover and oversaw the appointment of Eddie Howe as manager in November 2021.

The club have not yet commented on the pair’s anticipated departure.

In March, Staveley was found liable to pay a Greek shipping magnate, Victor Restis, £3.4million owed from an investment he made in her business ventures.

A spokesperson for Staveley said at the time that she disputed personal liability in the matter and intended to appeal against the ruling.

The £300million Saudi takeover of Newcastle attracted huge attention, not least because of the kingdom’s human rights record.

The deal stalled for months before finally concluding in October 2021 when the Premier League received “legally-binding assurances” that there would be no state involvement in the running of the club.

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