Amanda Staveley 'diluting' Newcastle investment as ownership stake gets 'smaller and smaller'

Amanda Staveley has 'diluted' her financial investment in Newcastle United but the PIF and Jamie Reuben have covered the club's 'losses'.

That is according to football finance expert Kieran Maguire following a change in how the percentages of Newcastle's ownership group are divided up. The PIF still have an 80% stake, which was the case when the takeover was completed in 2021, but there is no longer an equal 20% split between Staveley and Reuben.

Staveley stressed she remained on the 'top-co and the board' last month alongside husband and fellow part-owner Mehrdad Ghodoussi and the financier is still the face of the ownership group. In fact, Staveley continues to be a key figure behind the scenes - as well as an ever-present with her support for both the men's and women's teams - even if PCP Capital Partners' stake has reduced.

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"What we are seeing is that Newcastle United are issuing single shares so it doesn't really affect the percentages," Maguire told the Price of Football podcast. "They did one for £60m last August. They did one for £37m about six weeks ago so that doesn't really impact upon the 80/20 split.

"But what we are seeing increasingly, as far as the non-PIF ownership are concerned, is that, originally, Amanda Staveley effectively owned 10% and the Reubens owned 10% and every time there's a change, Amanda Staveley is not buying any more shares and the Reubens are so we're seeing her slice of the pie getting smaller and smaller and smaller.

"It was 10%. Before last month, it was down to just over 6%. I think it's now probably around 5.75% so her investment is diluting because either through choice or necessity, she has not been buying into Newcastle.

"Newcastle are doing very well on the pitch, as we know, but it costs the club a lot of money to invest in players, to invest in wages, so the club is losing money and those losses are effectively being funded by the shareholders, but it's coming from the PIF and the Reubens."