Kieran Maguire shares Newcastle United verdict after £35m Staveley reveal
Newcastle United fans should not panic despite club director Amanda Staveley becoming tangled in a £35million bankruptcy case.
That is the view of finance expert Kieran Maguire, who spoke exclusively to Football Insider about how much Staveley’s court case could impact her role at St James’ Park.
As reported by The Telegraph, a Greek shipping magnate has claimed that Staveley has failed to repay a loan for over a decade.
Victor Restis has accused Staveley of failing to repay a £35million loan in what has become a bankruptcy row between the two parties.
Staveley has submitted a High Court application to try and set the claim aside but is currently awaiting the judgement of the court.
Staveley owns around a 10 per cent stake in Newcastle United following the club’s Saudi Arabian-backed takeover in 2021.
Maguire believes that Newcastle fans should not worry about the outcome of Staveley’s case as the majority of club funding has come from the Saudi Arabian PIF.
“I don’t think Newcastle fans should panic about Amanda Staveley’s potential bankruptcy issues in regard to the supposed loan from the Greek shipping magnate,” Maguire told Football Insider’s Sean Fisher.
“Ultimately it’s a private matter between Staveley and the company involved.
“She does have independent wealth from a variety of sources and is involved in some fairly high-profile issues, including the deal between the Saudi Arabian PIF-backed LIV Golf and their deal with the PGA Tour.
“That particular issue turned out to be successful for LIV and Staveley.
“She has not been putting in large amounts of money into Newcastle herself, it has mainly come from PIF.
“So in terms of funding, I don’t anticipate any issues here.“
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