Revealed: Newcastle United inject £72m as new paperwork filed
Amanda Staveley and the Reuben Brothers have injected £12million into Newcastle United via a new share issue, Football Insider can reveal.
Staveley and the Reuben Brothers co-own JV1 Limited, which owns a combined 20 percent stake in the Magpies.
Newcastle’s parent company issued £60million worth of shares earlier this month via Companies House, and JV1 have now added to that cash injection.
A new share issue worth £12million was submitted to Companies House by JV1 on Tuesday (26 September) – backdated to 22 August.
It is understood that the money raised through the share issue will be injected into Newcastle to help with the club’s general funding and operational expenses.
It has been common practice for JV1 to issue shares equal to 20 percent of those issued by Newcastle’s parent company since the new owners took charge at St James’ Park.
JV1 Limited followed the same procedure in February with a new share issue worth 20 percent of the value of Newcastle’s £57million injection.
Adding £72million to the cash flow at Newcastle will help the Tyneside club balance their books and adhere to Financial Fair Play regulations after heavily investing in the squad over the summer window.
Eddie Howe added Sandro Tonali, Harvey Barnes, Tino Livramento and Yankuba Minteh to his squad for £133million over the summer.
With Newcastle also planning to expand St James’ Park and build a new fan zone at Strawberry Place, the new share issue will help the club fund those projects.