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Mike Ashley has made £ 10m against Amanda Staveley on a Newcastle Utd contract

Mike Ashley is seeking £ 10m in litigation against Amanda Staveley, a financier who served as mediator when a British billionaire sold Newcastle United to a Saudi-led financial institution.

Ashley is seeking the money, plus interest, on a £ 10m “dealer loan” he paid to Staveley to pay “advice, legal, and other fees and commissions” while working on the project, which was kept for several months before being completed last October. .

Documents submitted to the High Court in London show Ashley criticizing Staveley for violating credit terms, which included a clause barring defendants from publicly criticizing him. However, his remarks echo Staveley’s remarks in a press conference that broke the agreement.

Saudi Arabia’s Public Investment Fund was the largest fundraiser £ 305m to set up a Premier League club. The Consortium, which includes Staveley and Reuben’s billionaire brothers, ended the deal despite concerns over football rights in Saudi Arabia and the country’s alleged support for beoutQ, an Arab radio broadcaster accused of illegally advertising Premier League matches. .

The Premier League, which runs the top English football club, initially refused to participate, with a deal that came after Saudi Arabia ended a fraudulent dispute with Qatar correspondent beIN Sports, who paid billions of pounds for TV rights. .

Staveley’s husband, Mehrdad Ghodoussi, is another plaintiff who has been named as a traitor.

The initial repayment plan for the loan was 24 months until October 2023 but records show that infidelity can occur if Staveley or Ghodoussi “advises” Ashley or “reduces” his reputation publicly. On November 17, Ashley demanded that the debt be repaid immediately, but the documents said Staveley’s attorneys denied the so-called default.

Ashley’s claim that Staveley did not inform Ashley of plans to remove the Sports Direct and Flannels brand from St James’s Park, Newcastle, and that he would be willing to make a dent in the club’s sales price. .

According to the reservation, Staveley told Ashley on the phone “soon” to terminate the deal on October 7 so that Newcastle “will try his best to keep the SRL’s. [ Retail Limited] the right to support until the end of the 2021/22 season ”but instead provided a 14-day notice to be resolved on November 15.

In response, Staveley and Ghodoussi spokesman acknowledged the incident and said “they do not wish to comment on the allegations. However, they are confident that they will fully defend their claims.”

“The case will not deter Staveley or Ghodoussi from their strenuous career at Newcastle United, especially as they look more closely at the opportunities and times offered in the January window,” he added.

Rival clubs have previously tried to prevent Newcastle United from signing sponsorship deals with organizations with new Saudi owners, in order to ensure that the agreements are met at a fair market price.

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