Major Newcastle takeover update reveals truth behind Staveley finance with deal in tatters – report

Amanda Staveley is not a fund manager with £28billion or sovereign wealth funds under her management, according to a report.
The Guardian claims that this was something which had been “claimed by her own representative and widely reported in recent weeks”, after she and Newcastle had entered takeover talks.
These bids – of £350million and £300million in instalments and with a relegation clause, followed by a straight upfront bid of £50million – came to nothing, with owner Mike Ashley claiming there was “no deal on the table” in December.
That meant that Newcastle went into the January window with very little to spend, resulting in some late loan deals, one for goalkeeper Martin Dubravka and another for striker Islam Slimani.
The Guardian also claims that Staveley and her PCP group do not manage sovereign wealth funds either – another claim that had been made.
It says that her “operation” is to look for individual opportunities and then try to secure investors.
Her success comes from two huge investments she advised on by Sheikh Mansour – the purchase of Man City and a £3.5billion investment in Barclays Bank – for which she got £30million.
Before the newcastle talks she was involved in a failed bid for Liverpool and it is said that the money for the Newcastle bids came from “four or five individuals in the Gulf”.
Football Insider verdict:
Newcastle has some great news already today when they secured a massive boost in their fight against relegation, with a 1-0 win over Man United at St James’ Park. However, the long-term future looks pretty gloomy and these revelations about Staveley don’t make for good reading. There’s no suggestion that the Newcastle bids weren’t legitimate but the actual source seems far from clear, with “unidentified” figures in the Gulf. It doesn’t look like anything is going to happen in the foreseeable future with any interested buyers likely to wait until Newcastle’s Premier League future is secured. If it isn’t then it would be a disaster for Newcastle, for fans and for Mike Ashley.
In other Newcastle news, Gary Lineker delivers instant three-word Newcastle verdict after 1-0 win v Man United
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