Kieran Maguire issues verdict on Amanda Staveley ditching Tottenham for AS Monaco takeover

For many Tottenham supporters, Amanda Staveley investing in the club is a dream scenario. Adored at Newcastle United, the Middle East-focused financier brings a near-peerless...

Nov 8, 2024 - 21:00
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Kieran Maguire issues verdict on Amanda Staveley ditching Tottenham for AS Monaco takeover

For many Tottenham supporters, Amanda Staveley investing in the club is a dream scenario.

Adored at Newcastle United, the Middle East-focused financier brings a near-peerless book of contacts, a seemingly genuine desire to connect with fans, and a liberal approach to recruitment and retention.

Through her investment vehicle PCP Capital Partners, Staveley has reportedly raised £500m and has held talks to invest in Spurs, who Daniel Levy values at £3.75bn.

Amanda Staveley, director of Newcastle United, during the Premier League match between Sheffield United and Newcastle United at Bramall Lane on Sep...
Photo by James Gill – Danehouse/Getty Images

Significantly, Staveley’s investment would not come from her own purse – in fact, she appeared to be close to bankruptcy earlier this year – but rather through a consortium of US and Middle East backers.

Questions have been asked about whether Spurs is the right profile for the 51-year-old, who would be buying into the club alongside husband and business partner Mehrdad Ghodoussi.

At Newcastle, Staveley was allowed to have an outsized influence that outstripped the voting rights that her small stake in the club technically gave her.

Staveley also suffers with Huntington’s disease, a degenerative neurological condition which she says has given her a burning motivation to remain active in day-to-day business operations.

Fairly or unfairly, the perception of Daniel Levy is that he is a micromanager and would be unlikely to cede much control of this kind to a minority investor like PCP Capital Partners.

That begs the question, could Staveley be tempted to look beyond the Premier League in her search for her next football project?

AS Monaco, Amanda Staveley’s Tottenham alternative?

When news first emerged in July that Staveley had Spurs in her crosshairs, it was also claimed that she ideally wants to move towards full control of a club.

At Tottenham, that would not be possible. At least, not in the near or medium term.

By contrast the owner of AS Monaco, the Ligue 1 club with whom Staveley has also been linked, is selling a majority stake.

Dmitry Rybolovlev is looking to offload the entirety of his 66 per cent stake in the eight-time French champions in a deal that would likely be cheaper than a 10-20 per cent stake in Spurs.

Monaco has a clear appeal too, says Liverpool University football finance expert and Price of Football author Kieran Maguire, speaking exclusively to TBR Football.

“Monaco is the posterchild for a trophy asset club given its geographical location,” he observed.

But there are drawbacks too: “The downside is that the issues in relation to the French broadcasting deal makes it difficult to see where the growth lies.

“A lot will depend on which type of person she is trying to pitch the club towards.”

Could Staveley invest in Spurs and Monaco?

The multi-club model is all the rage in football at present, with Spurs one of only a handful of Premier League clubs who do not fall under a shared ownership model of some sort.

“There is no reason why she couldn’t do both,” projected Maguire.

Infographic explaining multi-club networks, with examples including the Red Bull model and Man City's City Football Group.

“Her investment at Newcastle was minimal. If she could find two parties to back her investment, there is no reason why both can’t be done independently of one another.

That could potentially spark conflict of interest issues with UEFA, who are making efforts to clamp down on the proliferation of the multi-club model.

“Spurs is a much higher entry cost but the rewards are much greater,” says Maguire, contemplating which of the two options might be more attractive to PCP Capital Partners.

Newcastle United's English minority owner Amanda Staveley (R) attends a panel discussion during the Global Investment Summit at Hampton Court Palac...
Photo by STEFAN ROUSSEAU/POOL/AFP via Getty Images

There are so many positives with Spurs. They have grown spectacularly since the move to the new stadium.

“All they have to do is start getting things right on the pitch. That appears to be moving in the right direction at the moment.”

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