Amanda Staveley has resigned as a director of 20 companies associated with Newcastle United.
The financier was removed as a director of a raft of listings on the Companies House website. Staveley recently had her shareholding in Newcastle diluted from 10 percent to 6 percent due to cash injections by the Saudi Public Investment Fund and fellow co-owners the Reuben family.
It has been a turbulent few weeks for the Toon chief who fronts the running of the club, and who was in the dressing room to congratulate Eddie Howe and his players after the 4-0 against Spurs at the weekend. 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.” The businesswoman was chastised by the judge for claiming she was under duress and intimidated when striking the deal, despite signing correspondence “sweetheart:”, “darling” and “Iove you so much.”
Staveley is regarded by many Toon fans as the saviour of their club having brokered the deal to bring in 80 percent Saudi state ownership, along with an initial 10 percent stake for herself. Staveley’s shareholding in Newcastle has been diluted to around 6 percent from 10 percent after fellow investors put in her share of a cash injection. A further £37m injection has gone in recently.
Newcastle’s accounts recently revealed Staveley was handed loans of £659,000 and £600,000 for unspecified legal fees. Her company, Cantervale has been paid £1.24m in advisory fees and £625,000 “to be refunded subsequent to the balance sheet date.” She also had to issue a public apology to Steve Bruce for saying he didn’t want to come to work when he was United manager.
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She resigned from the following companies:
- Newcastle United Group Limited
- Newcastle United Television Limited
- Newcastle United Football Club Limited
- Newcastle United Telecoms Limited
- St James’ Park Newcastle Limited
- Newcastle United Publications Limited
- Newcastle United Ventures Limited
- Newcastle United FC Limited
- Newcastle United Promotions Limited
- Newcastle United Sportswear Limited
- The Football Channel Limited
- Newcastle United Enterprises Limited
- Newcastle United Sports Limited
- NUFC Limited
- Newcastle United 1892 Limited
- Newcastle United Projects Limited
- Newcastle United Entertainments Limited
- Newcastle United Catering Limited
- Newcastle United Licensing Limited
- Newcastle United Employments Limited.
The resignations as director took effect yesterday and were revealed by Companies House today. She remains a director of her company PCP Nominees Limited, NUFC.co.uk Limited, Newcastle United Football Company Limited, Newcastle United Limited, a holding company for her Toon shares JV1 Limited, Cantervale Holdings Limited and PZ Newco Limited.
A Newcastle source said that resignations were part of business housekeeping and following best practice, and that many of the subsidiary companies are dormant.
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