Mike Ashley has initiated legal action against Amanda Staveley, the co-owner of Newcastle United, for allegedly breaching the terms of a £10m loan he provided in order to help facilitate the club’s £300m sale to a Saudi Arabian led consortium last October.
A representative of Staveley, who has a 10% stake in Newcastle while Saudi Arabia’s Public Investment Fund (PIF)has an 80% controlling interest and the property developers Reuben Brothers another 10%, said on Friday night she was “very confident” of successfully defending Ashley’s attempt to secure the immediate return of the loan.
