Newcastle United co-owner Amanda Staveley locked in fresh legal battle after £614m deciet

Newcastle United co-owner Amanda Staveley has launched a fresh legal case against Barclays after a £615m deception.

As reported in The Telegraph, Staveley's PCP Capital Partners are suing the bank for new damages after the financier put together an investment package for it during the financial crisis in 2008. Ultimately Barclays opted for a bail-out from Qatar.

The Newcastle United co-owner then accused the bank of deceit for not informing her and her funds about the rival deal, claiming they had lost out on millions as a result.

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In 2021 Staveley lost a High Court claim against Barclays but the judge found the bank had deceived her and was "guilty of fraudulent misrepresentation." The deception was priced at £615m but the court ultimately rejected Staveley's claim for damages after ruling she would not have had enough money to complete the deal.

Now, the businesswoman is seeking new damages at the International Chamber of Commerce (ICC) arbitration court.

Amanda Staveley led the Saudi Arabian takeover of Newcastle United in 2021 and initially owned 10% of the club. However, her stake has recently been revealed to have fallen to 6%.