However, the lawsuit suggests a deterioration in the relationship between Ashley and Staveley since the acquisition closed three months ago. Ashley is jointly suing Mehrdad Ghodoussi, Staveley`s husband, for his role as guarantor of the alleged two-year loan, which, among other things, is intended to cover Staveley`s legal fees incurred in the purchase of Newcastle. Former Newcastle United owner Mike Ashley has filed a lawsuit against financier Amanda Staveley, one of the key figures in the Saudis` recent takeover of the English Premier League club. A document seen by AFP shows retail tycoon Ashley`s St. James Holdings has filed a lawsuit in the High Court in London, although no reason was given for the complaint, which has also been filed against Staveley`s husband, Mehrdad Ghodoussi. Newcastle announced in November that they would initiate arbitration proceedings against the Premier League, and while that process is still ongoing – they lost a Supreme Court ruling in March to dismiss one of the lawyers reviewing the club`s dispute – they are now expanding their legal action to revive the takeover or seek compensation. Staveley and Ghodoussi thanked Ashley in a New Year`s message posted on the club`s website for her “commitment” to refuse to abandon the deal, which was blocked by the Premier League before it was signed after 17 months of litigation. Mike Ashley has taken legal action against Newcastle co-owner Amanda Staveley, the financier who negotiated the Saudis` £305m takeover of the club in October. Documents filed at the High Court in London by the retail tycoon`s legal team show he intends to repay the loan immediately, and also claim the Yorkshire-born financier has broken another promise not to criticise his leadership of the club in the media. In an inflammatory complaint, Ashley accuses the Premier League of “abusing his position” to “prevent or impede” the completion of the deal. Former Newcastle United owner Mike Ashley has filed a lawsuit against financier Amanda Staveley, one of the key figures in the Saudis` recent takeover of the English Premier League club. Ashley`s complaint includes both Staveley (right) and her husband Mehrdad Ghodoussi (left) A document seen by AFP shows retail tycoon Ashley`s St. James Holdings has filed a lawsuit at the High Court in London, although no reason has been given for the lawsuit, which has also been filed against Staveley`s husband, Mehrdad Ghodoussi.
Newcastle United and Manchester City are considering the idea of taking legal action after new Premier League rules were passed to restrict sponsorship by affiliated parties. Former Newcastle owner Mike Ashley (left) has taken legal action against Amanda Staveley (right) Mike Ashley has taken legal action against Newcastle United co-owner Amanda Staveley for allegedly breaching the terms of a £10m loan he made to sell the club for £300m to a Saudi-led consortium last October. facilitate. Staveley and Ghodoussi, who have a management contract to run the club, have been joined by Newcastle chairman and FIP governor Yasir Al-Rumayyan for yesterday`s FA Cup match against Cambridge United at St James` Park. Unlike arbitration, which is confidential, the parameters of the Ashley case have been made public. The CAT is a specialized judicial body whose mission is to hear and decide cases concerning competition or economic regulation issues. On an extraordinary day in Tyneside, the British government also ended its investigation into Newcastle`s previous tax activities, more than four years after the arrest of Lee Charnley, the club`s chief executive, following raids at St. James` Park and the club`s training ground. Ashley tries to cross St. James` Park Holdings, the company that ultimately owns Newcastle United, is not only seeking enforcement of the takeover, but is also seeking damages from CAT for “loss, gain or loss of opportunity”, interest, costs and “any other relief the court deems appropriate”.
Both sides were the only clubs to vote against a new requirement that all new commercial contracts must be submitted to the Premier League board for approval, a rule that will apply in response to the Saudi-funded takeover of Newcastle in October. “Now is the time for the dark forces preventing this football club from becoming the power the fans deserve to pull out.” For Staveley: Gerard Rothschild of Brick Court Chambers and Freshfields Bruckhaus Deringer The case concerns a loan from Ashley to cover costs incurred by Staveley and his companies in connection with the purchase of Newcastle United by a consortium led by Saudi Arabia`s Public Investment Fund for £305 million. Newcastle could challenge any deals in court that the Premier League process considers too lucrative. Their Vision 2030 and Neom projects could be promoted globally with Newcastle United. LET US KNOW WHAT YOU THINK! Are the new rules unfair to Newcastle and Man City? Comment below He also claims that he has “lost immediate sales” due to “infringements” by the Premier League, which is why he is making a complaint under section 47A of the UK Competition Act 1998. St. James Holdings attorney Richard Lissac said his client was ready to reach a settlement. Gerard Rothschild, who represents Staveley, said in written arguments that discussions had taken place “over the past 10 days.” Part of the Competition Appeals Tribunal (CAT) lawsuit seeks an injunction to force the Premier League to reconsider how it applies its own owner-and-director test, which concluded that the Public Investment Fund (PIF) was merely an extension of the Saudi state and that, therefore, Government officials should be tested. Clubs cannot suffer losses in excess of £105 million over a rolling three-year period. The former owner is taking legal action against Staveley and her husband Mehrdad Ghodoussi through her company, St.
James Holdings, although details have yet to be released. His lawyers say the loan, repayable by October 2023, is expected to be repaid earlier due to Staveley`s alleged breach of contract, meaning a higher interest rate is due on the loan, with a maximum of an additional £425,000. The Saudi Public Investment Fund has bought an 80% stake in Newcastle, ending Mike Ashley`s 14-year ownership. “After four years of subjecting the club to this investigation, I am delighted that the criminal investigation has been dropped,” Ashley told Sky Sports. Deals such as stadium naming rights or shirt sponsorship involving Eddie Howe`s team must result in the club pocketing a similar amount to clubs of similar stature, which Newcastle`s hierarchy says leaves no room for growth and is in fact anti-competitive. Newcastle, meanwhile, are second to last, battling relegation with just one win this season, against Liverpool, Man City and Manchester United next. PIF – who want to buy an 80% stake in the club, with a further 10% for Amanda Staveley`s PCP Capital Partners and the Reuben Brothers – and Newcastle deny this. Top Flight must also report all payments to players, executives and their executives of the companies associated with the property in order to assess whether they are intended for legitimate work and not a way to deposit a portion of their main salary. While that brief statement was a direct response to HMRC`s abandonment of a four-year investigation into Newcastle`s landmark transfer deals, it was also interpreted as another blow to the Premier League for refusing to ratify last year`s £305m Saudi bid to buy Newcastle. The Magpies` last league appearance was at Leicester City, where they finished in a 4–0 draw at the King Power Stadium. Mike Ashley has opened a new front in his dispute with the Premier League by launching anti-competitive proceedings over the blocked takeover of Newcastle United and making the extraordinary claim that the “dark forces” have “prevented this football club from becoming the powerhouse the fans deserve”.
The new owners were welcomed at Tyneside and celebrated by fans this week after sealing the £12m signing of England international Kieran Trippier from Atletico Madrid.