Premier League clubs block Newcastle United new mega sponsorship deals

Premier League clubs block Newcastle United new mega sponsorship deals

The majority of Premier League clubs voted to block the new Saudi-owned Newcastle United from agreeing lucrative sponsorship deals linked to their owners, claims the Guardian.

18 of the PL clubs voted in favor of a new rule banning commercial arrangements that involve pre-existing business relationships – with only Man City voting against it.

City-owned by the Abu Dhabi United group – have had related party transactions as they were sponsored by Etihad Airways, the Abu Dhabi owned air carrier.

Many clubs were worried that Newcastle’s new Saudi Arabia owners could pen wealthy commercial sponsorship deals in their nation to increase the club’s revenue.

The Magpies remain convinced that this new rule is ‘unlawful’ and ‘anti-competitive’.

Source: The Guardian
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