Things have been going well for Newcastle United since the Saudi Public Investment Fund took over, but that could all be about to change.
For any fans that religiously go to St. James’ Park to cheer on the Magpies, the football they’re watching now compared to when Mike Ashley owned the club and Steve Bruce was in charge of the first-team is like chalk and cheese.
Both Eddie Howe and the new owners should take great credit from that, and with Sandro Tonali likely to be the first of a handful of high quality summer signings, things are set to go from strength to strength for the club.
With a Champions League campaign to negotiate for the first time in two decades too, it’s an exciting time to be part of the Newcastle ‘re-birth.’
However, Amanda Staveley, who helped broker the deal with PIF and who owns 10 percent of the Premier League club, has now been threatened with bankruptcy.
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According to The Telegraph (subscription required), Greek shipping magnate, Victor Restis, has claimed that Ms Staveley has failed to repay a loan of more than £35m which has been outstanding for over a decade.
Ms Staveley has made a High Court application to try to ensure that Mr. Restis’ claim is set aside, though it isn’t clear at this stage which judgment the court will come to.
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