Finance guru: This is the real reason for £10m Staveley-Ashley legal drama at Newcastle
The real reason behind Mike Ashley’s decision to sue Amanda Staveley may centre around Sports Direct advertising at Newcastle United.
So says finance expert Doctor Dan Plumley, speaking exclusively to Football Insider about the legal drama enacted by the former Magpies owner.
Staveley was the public face of the PIF-led consortium that bought Newcastle from Ashley for £305million in October last year.
The Daily Mail reported on 8 January that retail baron Ashley was set to launch a High Court action against the 48-year-old financier.
Sky Sports updated last Saturday (22 January) to claim that Ashley is suing Stavely for £10million for violating the stipulations of the takeover deal.
It is understood that she agreed not to publicly criticise Ashley’s 14-year tenure at the club, with Ashley citing eight unnamed times when she did.
Plumley claims that his own research suggests that the removal of Sports Direct’s branding from St James’ Park is one of the key facets of the lawsuit.
“There is also something to do with the signage of Sports Direct,” he told Football Insider‘s Adam Williams.
“By removing the signage promoting Sports Direct, the argument is that it’s against the agreement.
“The agreement was that they would continue advertising his business at the stadium until the end of the season.
“That to me seems a little bit more concrete than Ashley not asking to be criticised.
“What that tells us about those two individuals is anybody’s guess. Although, the criticism aspect appears to be in the stipulations as well.
“The stadium advertising makes a little more sense because I think the criticism aspect is a bit left-field.
“There is never a dull moment with Mike Ashley, is there?”
Sports Direct is the jewel in Ashley’s retail crown, and its signage was taken down at St James’ at the beginning of December 2021.
A spokesperson for Staveley claims they are “confident of defending the claim in full.”
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