Finance guru: Amanda Staveley’s story ‘doesn’t stack up’ after Newcastle United legal drama update
Amanda Staveley’s account of how the Newcastle United takeover from Mike Ashely came to pass “doesn’t stack up.”
So says finance expert Doctor Dan Plumley, speaking exclusively to Football Insider about the looming legal battle between the pair.
Staveley brokered the PIF-led consortium’s £305million takeover of Newcastle from Ashley in October last year.
Ashley is now suing Staveley over an alleged transgression of the terms of a £10m loan he used to help finance her 10 per cent stake of the deal.
The Times reported last Friday (28 January) that the retail baron is now claiming Staveley did not have the funds for her stake.
The 48-year-old financier has previously stated that she sold a hotel in New York and borrowed family money to pay her way.
Plumley assessed the impact her possible lack of capital could have on the Magpies’ funding of future transfers.
“A lot of this comes down to legal stuff,” the Sheffield Hallam University expert told Football Insider‘s Adam Williams.
“To the best of my knowledge, it isn’t something that would become an issue with transfers.
“I don’t think there is a rule that says how you fund those transfers has to be linked to the owner’s stake.
“So I don’t think the fallout from this would affect transfers too much at this moment in time.
“It’s one for the lawyers to see how it goes. There are two sides to the story at the minute and they don’t both stack up. Certainly, Staveley’s doesn’t.”
Newcastle signed Kieran Trippier, Chris Wood, Bruno Guimaraes and Dan Burn on permanent deals in January, while Matt Targett joined on loan.
The Magpies are 18th in the league table ahead of their clash with Everton next Tuesday (8 February).
In other news, Mansfield Town agree to sign Matty Longstaff from Newcastle United.