Mike Ashley makes Newcastle United revelation in legal action

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The club’s former owner claims the terms of the loan, which was to cover legal and other costs, were breached when Staveley said she “can’t wait” for the Sports Direct signage to be removed from the stadium.

Speaking after the takeover, Staveley said: “Sports Direct signs I can’t wait to get down. It’s a slight frustration when I walk into the stadium and try to take a picture that doesn’t not contain Sports Direct.”

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Ashley submitted an amended request, which was seen by The Athletic. The documents confirm that Sportsdirect.com Retail Limited (SRL) paid no sponsorship fees for the 2019/20, 2020/21 and 2021/22 seasons, although the company paid an ‘annual fee’ of 1 million pounds sterling for the previous two campaigns.

“While the sale was being negotiated during the 2019/20 Premier League season, SRL did not pay the sponsorship fee so as not to increase the cash balance outside of the sale agreement in pending,” the document reads.

In the amended claim, Ashley also admits receiving a £17.5million loan repayment before the £305million sale to a Staveley-led consortium. Ashley was owed £106.9million on June 30 last year. The club is now 80% owned by the Saudi Public Investment Fund.

Mike Ashley, former owner of Newcastle United.

Ghodoussi has previously pledged to contest the claim “vigorously.”

Sports Direct logos at St James’s Park.
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