Mike Ashley cited after £14m behind-the-scenes Newcastle United twist – expert
The £14million raised in shares by Amanda Staveley’s company could be used to settle the court case with former Newcastle United owner Mike Ashley.
That is the view of finance expert Dr Dan Plumley, who spoke exclusively to Football Insider about the financial movement between the Tyneside club and JV1 Ltd.
Kieran Maguire reported last Saturday (7 January) that JV1 Ltd – a company controlled by Staveley and the Reuben brothers – issued over £14 million of new shares.
The influx of cash resulted in Newcastle fans speculating over the purpose of the raised funds, with many believing it could be put towards a January transfer.
Football Insider sources revealed last month (31 December) that Staveley is confident of reaching a settlement in a lawsuit over a £10million loan from former Newcastle owner Mike Ashley.
Plumley believes the money raised from the shares could well be put towards the legal proceedings but admits only time will reveal Newcastle’s intentions.
“It is financial movement between a related company and we’re all waiting to see what for,” Plumley told Football Insider’s Adam Williams.
“We know they have the investment from JV1 and that this linked company could be related to the payments over the Ashley case with Staveley.
“It also could be used for transfer plans in January and beyond or simply put towards club operations this season.
“There is definitely something in it and we’re waiting for it all to materialise.“
In other news, Newcastle United are paying ‘over the odds’ in their Youssoufa Moukoko deal