With the Saudi Arabia PIF, the controlling majority shareholders of St James’ Park, Amanda Staveley has now reached a new agreement.
The businesswoman acquired a 10% share in Newcastle United as part of the new ownership when the acquisition of the club finally occurred on October 7, 2021.
The Reuben family owns the remaining 10%, leaving the Saudi Arabia PIF in control with an 80% share.
However, Amanda Staveley also had a management contract in place to administer the club in the early going on behalf of the new owners / Saudi Arabia PIF after having been the very public face of the attempt to gain ownership of Newcastle United after the consortium seized possession.
In a recent exclusive, The Times has learned that the Saudi Arabia PIF and Amanda Staveley have reached a new arrangement, now referred to as a “advisory agreement,” that would allow her to continue overseeing the club’s operations rather than stepping down.
Having inherited a farce of a football club with no formal board or management structure in place under Mike Ashley, the consortium are forced to fully rebuild the club, and a huge part of that is putting top professionals in crucial roles. Only because it was required by law, Lee Charnley is Newcastle United’s sole official CEO AND sole director.
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When making important choices at the club, Ashley prefers to employ individuals from his close circle as the Sports Director, including Keith Bishop and Justin Barnes.
Yasir Al-Rumayyan is the chairman of the board of directors for Newcastle United, which also includes Amanda Staveley, Majed Al Sorour, and Jamie Reuben as additional directors.
The task of locating the crucial top personnel who would assist in launching an ambitious Premier League as it should be was then publicly headed by Amanda Staveley.
Following the arrival of Dan Ashworth as Sporting Director, Darren Eales, who excelled at Atlanta United, will begin serving as the club’s new Chief Executive on Monday, August 22, 2022.
Many believed Amanda Staveley would have a much lower role as only one of the club’s directors after these important appointments, particularly the new CEO, were made.
However, this report from The Times suggests that in addition to her seat on the board, she will continue to hold a more active role as an employee or contractor.