Amanda Staveley is famous for her affiliation with some of the most powerful and prominent people in the Middle East, particularly Saudi Arabia. Perhaps she became known in the football world for her role in the takeover of Newcastle United, which began in 2018 before reaching its conclusion in 2021, with Staveley herself owning 10% of the club alongside Reuben Brothers and the Saudi Public Investment Fund, who own 10% and 80% stakes, respectively.
However, the British business executive is now facing problems of her own, as she was recently slapped with a lawsuit over an unpaid debt of £37 million that could lead to her bankruptcy, according to reports.
Amanda Staveley in legal battle with Greek shipping company
The director of Newcastle United and owner of a 10% stake in the club, Amanda Staveley, is facing serious legal problems over unpaid debts of £37 million to a Greek shipping company. The shipping company owner, Victor Restis, a former director of Manchester City in the era before Sheikh Mansour’s takeover in 2008, which included Staveley, has been forcing the Yorkshire-born business tycoon to declare bankruptcy over a debt that was owed to him 15 years ago.
According to the Mirror, Staveley informed the court to stop Restis from forcing her to declare bankruptcy and has enough confidence that the case will be quashed by the court. Last summer, a representative of Victor Restis made the case public. “Mr Restis has instructed Francis Wilks & Jones solicitors to recover an outstanding balance on a loan dating 2008 from Amanda Staveley,” the spokesperson told The Telegraph.
“Any application by her legal representatives to set aside our client’s statutory demand totalling £36,841,287 (plus daily interest) will be vigorously opposed,” he concluded.
Amanda Staveley’s input to secure Saudi takeover
Amanda Staveley played a vital role in the takeover of Newcastle United in 2021. The process started in 2018 when the British businesswoman proposed to buy a stake in the club.
She was immediately turned down. She tried again in 2020, but this time, with the Public Investment Fund of Saudi Arabia in tow. The takeover was completed in 2021, and Amanda became a stakeholder in the Magpies, controlling 10% of the club.
Despite the backlash the deal received from some sections of the media, with 19 other Premier League clubs voting against the takeover, it still went through. Amanda Staveley claimed the Saudi Public Investment Fund was a different entity from the government of Saudi Arabia, which eased the tension, paving the way for the takeover to be a success.
