Amanda Staveley and Cantervale: What does it mean for Newcastle United?

Amanda Stavely and Cantervale: What does it mean for Newcastle United?

After tweeting about the establishment of ‘Cantervale Limited’, I’ve had a few fellow Newcastle fans in touch. Most of whom to ask what on earth I’m talking about. So, I decided to write an article discussing the implications this company has on the sale of Newcastle United Football Club.

To better understand what’s going on, I decided to look back on the sale of Manchester City from Thaksin Shinawatra to the Abu Dhabi United Group (ADUG) in Summer 2008, which was brokered by Staveley. This will give us an idea of how Amanda likes to conduct business, and how she and her Lawyer/Business partner Craig Farquhar have structured deals in the past. In Spring 2008, the Thai government froze Thaksin Shinawatra’s $750 million bank account, and brought proceedings to extradite him.This would make him in breach of Premier League regulations, deemed ‘unfit to be an owner’, then forced to sell the club. Anticipating this, Amanda Staveley established ‘PCP Capital Partners’ in May, a company with 2 shares which she owned outright. This company was set to be used as a vehicle for the Abu Dabhi United Group to purchase the club.

So, you’re asking, how is this relevant to Newcastle United? Well, yesterday Amanda established ‘Cantervale Limited’ a company with 1 share owned by herself. This company has extremely close links to PCP in 2 ways. Firstly, it is registered from the same luxury apartment as PCP, ‘130 Park Lane, W1K 7AE’, in Central London. Secondly, ‘Penhallow Company Services Limited’ is registered as the agent of Cantervale, making Penhallow and Cantervale part of the same corporate group. Penhallow is owned outright by Mr Craig Farquhar, the same man Staveley worked with to broker the purchase of Man City.

As well as having close ties to PCP in terms of location and personnel, the structure of the companies emerging is like that of the City Deal. In having only one share owned by Staveley, Cantervale is indicative of a ‘vehicle company’, akin to PCP’s role in the City Deal. In said deal, Staveley was a broker for ADUG, receiving a ‘commission’ with Mr Craig Farquhar as her Legal Consultant. I believe Staveley will broker the deal for NUFC herself, using Cantervale as a vehicle, while continuing to legally reside in Dubai. Rather than acting as an employee, Craig Farquhar will now be a business partner, with Penhallow being established to give him commission of his own.

(If you're still awake), this structure would’ve never have been put in place if she wasn’t certain it would be used. Firstly, she wouldn’t waste the Company Registration fee and her time otherwise. Secondly, Amanda hasn’t set up any companies since PCP at all, other than the ‘Amanda Staveley foundation’. This is despite her extended negotiations over Liverpool Football Club back in 2008, demonstrating she doesn’t set up vehicle companies light-heartedly, or over-speculatively. 

A few sceptics have dismissed this as nothing due to the confidentiality agreement between Staveley and Ashley. However, this couldn’t be more irrelevant. Information on every company registered is publicly available, regardless of any private agreements.  

From a legal perspective, I’m 99% confident of a sale going through in the next fortnight. Put the Brown Ale on ice, because Mike Ashley is finally getting out of the club.

Comments

  1. Gadger3 January 2018 at 00:57

    Good read, cheers lad!

    ReplyDelete
  2. Unknown3 January 2018 at 01:07

    nice

    ReplyDelete
  3. Rich3 January 2018 at 01:40

    Sensible. Only thing not onboard with; I would not conclude that if the company is registered then it's a done deal on the basis of the cost of registration!

    ReplyDelete
    Replies
    1. Anon3 January 2018 at 04:33

      agreed. it's buttons to set up a company, and takes very little time. Penhallow and Cantervale are not also part of the same corporate group, Penhallow are simply the agents used to set up the company, any solicitor could have done that, and wouldn't necessarily be part of the same structure nor entitled to any commission. That's being very picky though, and I agree it is definitely a step in the right direction. It's my birthday today, please let this be the greatest birthday present ever.....

      Delete
    2. tombenbow3 January 2018 at 05:49

      Very valid doubts to raise. I agree the point about the registration fee is fairly moot. It's more the time and effort involved in establishing said corporate structure. Happy Birthday!

      Delete
  4. Unknown3 January 2018 at 09:36

    Finally Ashley is closer to go drink his beers somewhere not my beloved toon club

    ReplyDelete
  5. Tevez6 January 2018 at 20:35

    Its a far cry from the days of supporters like Sir John Hall owning clubs, and showing their love by backing them with enough desire and passion to match any financial injection they give.... Newcastle signed Alan Shearer because of football and the owners being fans !!! For the majority of clubs this era is over, no passion, just a commodity for the share holders... saying that, if any fans can turn the owners into supporters it's Newcastle United

    ReplyDelete

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