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Newcastle blocked from agreeing huge deals with Saudi companies after new sponsorship rules passed

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NEW sponsorship rules preventing Newcastle from cashing in on their Saudi owners have been passed by Prem clubs.

The majority of Prem outfits ganged up on the new Toon overlords after league bosses waved through the £305m takeover.

Newcastle’s new owners won’t be allowed to profit from relationships with Saudi companies due to new regulationsCredit: EPA

Clubs put a temporary ban on any new sponsorship deals being agreed while new rules were drafted.

Only Manchester City declined to support a vote for new regulations which will see clubs forced to prove any deals with owner-linked companies are paid at ‘fair market value’.

While it will not prevent Newcastle inking deals with Saudi companies, they cannot agree contracts that are artificially boosted to get round Financial Fair Play rules.

Instead, Newcastle and all other clubs will now have to show the deals were at a commercially-justifiable level.

The new regulations, drafted by a sub-committee comprised of eight clubs – including both Newcastle’s Amanda Staveley and Manchester City’s Simon Cliffe – represent a financial straitjacket for the Toon and their owners.

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Chelsea, Aston Villa, Burnley, Arsenal, Everton and Manchester United complete the group.

The new regulations were supposed to be agreed last month but the planned meeting of clubs was put back a fortnight.

It is understood around a third of top flight clubs attended the League’s headquarters near Paddington in person with the rest present virtually.

Clubs had also been planning to discuss the proposed ‘Owners Charter’ but amid talk of a ‘compromise’ deal to get those measures through the issue will be put on the back-burner until the New Year.

Source: Soccer - thesun.co.uk

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