Amanda Staveley has stepped down as a director from 20 companies linked to Newcastle United after her stake in the club was reduced.
The Companies House website shows that she was removed as a director from numerous listings. Staveley's shareholding in Newcastle was recently diluted from 10 percent to 6 percent due to cash injections by the Saudi Public Investment Fund and fellow co-owners, the Reuben family.
The Toon chief, who is at the helm of the club's operations, has had a tumultuous few weeks. She was present in the dressing room to congratulate Eddie Howe and his team after their 4-0 victory over Spurs at the weekend.
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However, she has been ordered by a judge to pay Greek tycoon Victor Restis £3.4m by next week, money owed from an investment he made in her businesses.
The presiding judge criticised her witness statement as venturing "into the realm of fantasy and completely implausible" and dismissed her claim that a business deal was struck under duress as having a "complete lack of credibility," reports the Mirror.
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The judge also reprimanded the businesswoman for claiming she was under duress and intimidated when striking the deal, despite signing correspondence with terms of endearment such as "sweetheart", "darling" and "Iove you so much."
Staveley, hailed as the saviour of Newcastle United by many fans, brokered the deal that brought in 80% Saudi state ownership and initially secured a 10% stake for herself. However, her shareholding has been diluted to around 6% after fellow investors contributed her portion of a cash injection.
A further £37m has recently been invested. Newcastle's accounts have disclosed that Staveley received loans of £659,000 and £600,000 for unspecified legal fees. Her company, Cantervale, was paid £1.24m in advisory fees and £625,000 "to be refunded subsequent to the balance sheet date."
She also had to publicly apologise to Steve Bruce for claiming he didn't want to come to work when he was United manager. Her resignations as director came into effect yesterday and were announced by Companies House today.
She continues to serve as a director of her company PCP Nominees Limited, NUFC.co.uk Limited, Newcastle United Football Company Limited, Newcastle United Limited, JV1 Limited (a holding company for her Toon shares), Cantervale Holdings Limited, and PZ Newco Limited.
A source from Newcastle stated that the resignations are part of business housekeeping and adhering to best practice, adding that many of the subsidiary companies are dormant.
