After the newest development in her legal case, Amanda Staveley is at risk of losing her job at Newcastle United, shares in the club, and being ‘disqualified’ as managing director, according to Football Insider.
Staveley is currently facing a court battle against a Greek shipping mogul and was ordered on Monday (March 25) to pay £3.4 million by April 22 or risk bankruptcy.
If she fails to pay on time and is declared bankrupt, Section F of the Premier League manual specifies that it is a “disqualifying event” and she would lose her place on the board as well as her club shares.
The 50-year-old Brit assisted PiF in negotiating a £300 million buyout of Newcastle United for 2021.
She has been a regular at St James’ Park since the takeover and was featured in the documentary ‘We Are Newcastle United’.
Amanda Staveley bankruptcy threat could cost her Newcastle United seat
Staveley controlled 10% of the club’s shares following the takeover, although her interest has since been cut to 6%.
Victor Restis took the Magpies head to court, demanding an initial payment of more than £35 million from Staveley.
Restis abandoned demands for interest and legal fees, bringing the demand down to £3.4 million.
Staveley has publicly said that she wants to fight the High Court ruling and that the bankruptcy filing is a “abuse of process”.
She is also involved in two court battles with former Newcastle owner Mike Ashley over the club’s shirt sponsorship arrangement and a £10 million loan made during the takeover.
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