Newcastle United are set to undergo a major shakeup as all is set for minority shareholders Amanda Staveley and Mehrdad Ghodoussi to sell their stake in the Premier League club, according to reports on Wednesday.
Staveley was a pivotal figure in brokering a deal which was able to allow Saudi Arabia’s Public Investment Fund buy 80% of the Magpies in October 2021.
Alongside her husband, Ghodoussi, Staveley had initially held a 10% stake in Newcastle.
Ghodoussi and Staveley were fully involved in running Newcastle after the Saudi-backed takeover which saw the arrival of Eddie Howe, in November 2021, as manager.
Newcastle ended their 2022-23 Premier League campaign by securing a Champions League ticket after finishing fourth and also reaching the League Cup final.
The following 2023-24 season was a rather disappointing one as they crashed out of the Champions League group stage, while also finishing seventh on the log in the English top flight.
Also, Staveley and Ghodoussi’s shareholding was reduced to 6% due to recent equity raising which the duo have not participated in.
According the BBC, the pair are set to leave the club bur Newcastle are yet to comment.
The £300million Saudi takeover from former owner Mike Ashley attracted major attention, in huge part because of controversy over the human rights situations.
Staveley was crucial in pushing for the deal after it stalled before final wrapping it up in October 2021 when the Premier League received assurances that there would be no Saudi State involvement.
