Newcastle will be allowed Saudi Arabian sponsorship deals, Premier League decides



In October, a Saudi Arabian-backed takeover ofNewcastle United was completed.

The Saudi Arabian companies will be allowed to sponsor the United Nations if the league deems them to be fair market value.

The temporary block on the club was removed on Tuesday.

Gary Hoffman, the chairman of the premier league, decided to step down at the end of January 2022.

The fair market value will be decided by the league board.

The Saudi Arabian Public Investment Fund provided a lot of the finance for the takeover, and it was feared that the companies that signed the deals would inflate their spending capacity under the Financial Fair Play rules.

The analysis was done.

Simon Stone is a sports reporter for the British Broadcasting Corporation.

The unhappiness within the league will be mitigated by this move.

It has allowed the club to start arranging their own commercial deals in line with their status as a club with roots in Saudi Arabia.

Eddie Howe's squad can be improved if deals like Manchester City's with Etihad Airlines are done because they can be the catalyst to inject millions into the club.

Short term, they are in a fight for their lives. Their future looks bright in the medium term.

One idea to block all commercial deals was quickly discarded.

The Premier League has agreed that what are considered associated party transactions will be subject to heavy scrutiny.

The board of the premier league will take guidance from an external auditor.

They will have access to a confidential data bank created by the premier league, which will accumulate previous commercial deals across the league to assess their value.

League chiefs hope this will prevent manipulation.