Amanda Staveley agrees new Newcastle United deal with Saudi Arabia PIF – Report
Amanda Staveley has now agreed a new deal with the Saudi Arabia PIF, who are the controlling majority shareholders at St James’ Park.
When the Newcastle United takeover eventually took place on 7 October 2021, the businesswoman took a 10% stake in the club as part of the new ownership.
The Saudi Arabia PIF with the controlling 80% stake, then the Reuben family the remaining 10%.
However, as well as her stake in the club after having been the very public face of the bid to take control of Newcastle United, once the consortium took control, Amanda Staveley also had in place a management contract to run the club in the early days on behalf of the new owners / Saudi Arabia PIF.
Now in a new exclusive, The Times have revealed that the Saudi Arabia PIF have agreed a new deal with Amanda Staveley, now termed an ‘advisory agreement’, which will see her now continue to help oversee the running of the club, rather than step back.
The consortium are having to completely rebuild the club and a massive part of that is putting in place top professionals in key positions, having inherited a joke of a football club that had no proper board or management structure in place under Mike Ashley. Lee Charnley the only official executive AND the only director at Newcastle United – only because legally one had to be named.
Ashley preferring to use people from his Sports Director inner circle to unofficially pull the strings at the club when making major decisions, the likes of Keith Bishop and especially, Justin Barnes.
Newcastle United now have a board of directors, with Yasir Al-Rumayyan the Chairman, then three other directors – Amanda Staveley, Majed Al Sorour and Jamie Reuben.
Amanda Staveley has then publicly led the job of identifying the key top employees to come in and help start running an ambitious Premier League as it should be.
Once these key appointments were in place, especially the new CEO, it was then expected by many for Amanda Staveley to play a far smaller role as simply one of the directors at the club.
However, this news from The Times signals that she will continue to have a more hands on position as an employee / contractor as well as her place on the board.
Darren Eales will be running Newcastle United on a day to day basis on behalf of the board of directors but Amanda Staveley having had her contract renewed by Saudi Arabia PIF, will seemingly be the key point of contact for the CEO as part of her ‘advisory agreement’, allowing her to continue her hands-on place in the rise of NUFC.
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