Amanda Staveley issues official statement as potential Tottenham investor group liquidated
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Amanda Staveley’s investment plan for Tottenham has excited Spurs fans keen to break from Daniel Levy’s conservative style in favour of an ambitious approach like the one she used at Newcastle United.
Staveley has been ousted at Newcastle despite having orchestrated the deal that saw the Saudi Public Investment Fund (PIF) and the Reuben Brothers take over the club in October 2021.
The financier, who took a minority stake in Newcastle after the takeover that she has since divested, endeared herself to the St. James’ Park faithful with her aspirational rhetoric and recruitment strategy.
Staveley and Newcastle’s modus operandi was to spend as much as the Premier League‘s Profit and Sustainability Rules (PSR) allowed.
That is in contrast to Levy and ENIC‘s approach, which is geared towards making Spurs self-sufficient without having to rely on the owners to underwrite losses.
Both models have their merits and suit the interests of their owners, but there is only ever one that will be more popular with the vast majority of supporters.
That is why when news emerged earlier this year that Staveley wants to invest £500m in Tottenham through a consortium backed by Middle East finance, Spurs fans’ eyes bulged with imagined riches.
But recent developments may theoretically have thrown a spanner in the works on that front.
Staveley company liquidated, statement issued
When Staveley invested in Newcastle, she initially did so through two vehicles, PCP Capital Partners and Cantervale Limited.
When Bloomberg first reported that Staveley was interested in Newcastle, the line was that any investment would come through PCP Capital Partners.
But that company, which was renamed Apollo Belvedere Services last year, has since gone into liquidation following Staveley’s defeat in a court case against Greek shipping tycoon Victor Restiss.
In what appeared to be another blow last week, Cantervale – which has also been renamed, as Redstart Leisure Limited – also went into voluntary liquidation.
The latest from Bloomberg is that Staveley is winding the company down ahead of an expected hike in capital gains tax by Sir Kier Starmer’s new Labour government.
In a statement emailed to the outlet, Staveley revealed that she would not take her assets offshore and will continue to operate in the UK.
She said: "I will be retaining my existing UK tax residence after it has been completed. I also wish the government success with its growth agenda."
What Staveley’s statement might mean for Tottenham investment hopes
Significantly, Staveley was never likely to invest her own capital in a football project like Spurs but rather be the public face of a consortium of backers who are much more independently wealth than she is.
In fact, Staveley was reportedly close to bankruptcy after her legal defeat against Victor Restiss.
As finance experts such as Kieran Maguire have exclusively told TBR Football, Staveley’s talents lie in her near-peerless contact book and her capabilities as a dealmaker.
When she invested in Newcastle, she borrowed from deal partner Reuben Brothers to be able to afford her stake, later paying that loan back from the profit on the sale of the shares back to Reuben Brothers.
It is encouraging for Spurs that Staveley, who previously helped broker the Abu Dhabi-backed takeover of Man City, is keeping her business interests in the UK in any case.
