Claims of Amanda Staveley court case holding up Newcastle United takeover are laughable
Amanda Staveley is due in court on Monday.
The case relates to events 12 years ago during the banking crisis.
Barclays Bank in 2008 turning to investors from Qatar and Abu Dhabi.
Amanda Staveley claims that she and her company, PCP, were key to putting together a group of investors led by Sheikh Mansour.
PCP Staveley were paid £30m by Barclays for services provided BUT Amanda Staveley is claiming they could be owed as much as £1.6bn.
In response to this week’s impending court case, we have seen the following headlines:
‘Amanda Staveley puts Newcastle takeover ‘on hold’ due to £1.6bn court case with Barclays’
The Mirror declare:
‘Amanda Staveley puts Newcastle takeover bid aside for £1.6b legal battle with Barclays’
Will Amanda Staveley win her case against Barclays?
To be honest, I haven’t got a clue and I don’t really care.
However, what I am confident about, is that in no way will this Staveley court case affect how quickly, or not, the Newcastle United takeover.
Interestingly, beyond their headlines, the likes of The Mirror and Talksport don’t give any explanation as to exactly why or how the court case will delay or put ‘on hold’ anything to do with the takeover.
I take it we are simply supposed to assume that because she will be in court and / or have her mind on something else, less than 100% concentration from Amanda Staveley means the NUFC takeover can’t progress due to her inhibited input.
It is just total nonsense for any number of reasons.
The Premier League have been provided with all necessary documents these past nine weeks AND it is Chris Mort who is leading the legal team representing the Saudi PIF backed bid, not Amanda Staveley. As is well documented and the Barclays case a perfect example of it, Staveley’s business / expertise is helping to set up deals and bring people together. The NUFC takeover is all agreed and now down to the legalities of it, not something which is her area of particular expertise.
Also, nobody surely thinks that Amanda Staveley hasn’t been working on other projects / deals this past year whilst the Newcastle takeover has been progressing?
Likewise, the Saudi PIF have of course made any number of major investments in a diverse range of companies, with naturally the Reuben brothers no doubt cracking on with other work.
It remains to be seen whether we get completion on the Newcastle United takeover any time soon BUT rest assured, this Amanda Staveley court case against Barclays won’t influence it in either the final decision or how long it takes.
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