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10th Jul 2024

Newcastle co-owners set to sell shares after just three years at St James’ Park

Harry Warner

Big news for The Magpies

Newcastle United co-owners Amanda Staveley and Mehrdad Ghodoussi are to leave the club and sell shares after just three years at St James’ Park.

Staveley was crucial in Newcastle’s Saudi takeover which led to her taking a ten per cent share in the club and become the face of the club after the takeover.

The 51-year-old represented Newcastle at Premier League meetings where she led the charge against rule changes such as restrictions on sponsorship deals.

She was a popular figure at Newcastle often spending time to meet and drink with fans along with her husband Mehrdad Ghodoussi.

In 2021 Saudi Arabia’s Public Investment Fund paid £300m for 80 per cent of Newcastle in a transaction that has changed the clubs fortunes as well as caused plenty of debate in the Premier League.

However, for the meantime it is unlikely that the British businesswoman will be replaced on Newcastle’s board.

Two years ago the club appointed Darren Eales as the club’s chief executive who has already began taking over many of Staveley’s original responsibilities.

Staveley was paid with a ten per cent share in the club for helping the Saudi’s broker the takeover from Mike Ashley.

She has since sold some of those shares to brothers, Jamie and David Reuben. 

The news that the couple are set to sell their shares comes as Premier League profit and sustainability regulation become ever tightened in England’s top flight.

Clubs have been delving into ways to reduce spend while Manchester City’s hearing over 115 financial fair play breaches could have spurred the co-owners to jump ship.