‘We won’t spend silly money’; Staveley issues warning after stunning Newcastle pledge

Amanda Staveley insists Newcastle will not be held to ransom by clubs demanding huge fees for their players but wants to challenge for silverware.

The Magpies were taken over in October by the Saudi PIF and the Reuben Brothers, while Staveley also took a 10 per cent stake. The club was languishing at the foot of the Premier League table, with relegation a distinct possibility. The new owners took the decision to sack Steve Bruce, with Eddie Howe moving into the St James’ Park hotseat.

Things are now on the up, with the Tynesiders four points clear of the drop zone. There is still a long way to go.

But, speaking at the Financial Times Business of Football Summit, Staveley admitted the new regime has different goals to predecessor Mike Ashley.

“Mike was very honest with the fans he said he didn’t have deep enough pockets to invest,” she said, per Newcastle World. “Neither have (husband) Mehrdad and I. Thank god we have incredibly wealthy investors alongside us like PIF and the Reuben family, Jamie Reuben.

“He had taken the view he was ready to sell, we arrived and the business model is to build this club into a huge global business, a huge global brand and we want to be the best at football and challenging for trophies.”

Howe brought in some new faces during the January transfer window. It is notoriously difficult to get the right players through the door mid winter.

The immediate task is to keep the club in the Premier League before top-name stars are expected to arrive in the summer. But Staveley has made it clear that no club will take the north-east outfit for a ride.

“That needs a lot of investment. We are not saying we are going to spend silly money. We are not,” she added.

“I hope that in the next transfer window