Wed 17 Apr 2024, 13:59 · Ash Harrison

Take a deep breath and repeat after me: These Companies House updates mean nothing

Take a deep breath and repeat after me: These Companies House updates mean nothing
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There was panic all over the Newcastle United corners of social media this morning as updates came out from Companies House suggesting Amanda Staveley and Jamie Reuben had resigned.

While the duo have removed themselves from a number of Newcastle United companies, they remain on the board at the football club.

There are around 20 different companies connected to Newcastle United that the new regime inherited as part of the takeover, many of which have been dormant for years.

The "resignations" are merely part of an ongoing bout of housekeeping and will not affect the day-to-day running of the club, as confirmed by The Chronicle.

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Wor Mandy is going nowhere yet

Staveley's bankruptcy case could force a boardroom change

There was a genuine cause for panic initially as one of the companies noted to have changed was Newcastle United Limited, but that is in fact a separate company to the actual football club.

With all that has been going on with Amanda Staveley and her potential bankruptcy, there have been a couple of instances lately where Staveley has diluted her shares in the company, probably in order to be able to pay off her debts and avoid bankruptcy proceedings.

If Amanda Staveley was forced into bankruptcy, then there would be a change at board level as a person who has gone bankrupt can not sit on the board of a Premier League club.


We can all relax for now

For now, though, it's all as you were with nothing to worry about.

Ignore the clickbaity headlines and ITKs with no clue, and save the panic for when we need it, like when on the final game of the season and all we need is a win against Brentford to get into the Champions League and it's 0-0 with seconds to play and Newcastle have a penalty. Then we can panic.

I've made myself panic now. Why did I have to come up with that scenario?