Newcastle United co-owner Amanda Staveley has said in High Court documents that she borrowed £30.5m to help fund her 10% stake in the club.
But in court documents seen by the BBC, she admitted claims made by former owner Mike Ashley that she borrowed the money from fellow co-owners the Reuben brothers, who also own 10% of the club.
The payment was made to another of Staveley's companies, Cantervale Limited, with the remaining 80% of the Newcastle sale financed by the Saudi Public Investment Fund.
Staveley also says she borrowed £10m from Ashley to cover costs during the acquisition.