Mike Ashley SUING Newcastle co-owner Amanda Staveley for violating the terms of a £10m loan by slamming ex-Toon chief
MIKE ASHLEY is suing Newcastle co-owner Amanda Staveley for violating the terms of a £10million loan – by publicly slating the former Toon chief.
Ashley sold the Magpies last October for £300million with Saudi Arabia’s Public Investment Fund owning 80 per cent while Staveley and the Reuben brothers have ten apiece.
The Sports Direct tycoon lent the businesswoman £10m to cover ‘advisory, legal and other costs and commissions’.
In return Ashley demanded she did not criticise his 14-year tenure, with his legal team claiming those conditions have been violated.
Ashley’s lawyers also argue that Sports Direct has suffered a ‘marketing loss’ after signage was removed from St James’ Park.
They want the £10m plus interest returned immediately and are also suing Staveley’s husband, Mehrdad Ghodoussi, in his role as guarantor that she would pay the money back.
The documents state: “Mr Ashley wanted protection from public criticisms of his tenure as ultimate beneficial owner of NUFCL (Newcastle United Football Club Limited) by new owners and/or managers of NUFCL because such criticisms carry particular weight.”
They go on to say that Staveley publicly made ‘derogatory’ comments in interviews which portrayed Ashley’s running of the Magpies in a ‘negative light.’
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Staveley, the chief executive of PCP Capital Partners, declared that she invested her ‘family’s money’ into Newcastle.
But Ashley has questioned this, claiming she only secured her 10 per cent share after being given a £30m loan by the Reuben brothers.
A spokesperson for Staveley and Ghodoussi said: “They are very confident of successfully defending the claim in full.
“The litigation will not distract Ms Staveley or Mr Ghodoussi from their hard work at Newcastle United, particularly as they focus on the opportunities and deadlines presented by the January transfer window.”
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