Newcastle’s plans are so far thwarted by the Premier League. The club’s ban on signing sponsorship deals with companies based in Saudi Arabia lasted until a minimum of December 14, when the measure was originally scheduled to end on November 30. As reported on Saturday by the Daily Mail, the extension of this decision risks limiting the investments of the current last in the championship, bought in early October by the Saudi sovereign fund.
This rule, temporary, was interoduced on October 18 after a vote of the Premier League clubs in an emergency meeting. This measure is in fact intended to prevent teams from entering into agreements with companies linked to their owners, in order to avoid a kind of financial doping. However, Amanda Staveley, shareholder and manager of Newcastle, recently said that Newcastle “is looking to secure sponsorship deals as quickly as possible”.
Without the possibility of signing contracts with Saudi companies, Newcastle could be forced to reduce its ambitions for the winter transfer window. Last I heard, a budget of 60 million euros was raised to try to strengthen the team of new coach Eddie Howe, whose mission is to leave 20th place and ‘Avoid relegation.
When the Newcastle takeover was made official, the rest of the PL, with the notable exception of Manchester City, protested. The league then said it had received legal assurances that the Saudi state would not have control of the club. However, that did not convince the club leaders, who pushed the chairman of the body Gary Hoffman to the resignation. However, he had only been in office for 19 months.