Newcastle United are going to have a new shirt sponsor next season, and a fresh report has provided an update on who it might be.
FUN88 are set to end their association with Newcastle, with the Chinese betting firm agreeing a deal with the Magpies to part ways two years earlier than anticipated.
This means that the club can bring in a more lucrative sponsor ahead of next season, and the deal could now be even more financially beneficial after Eddie Howe’s side qualified for the Champions League.
It was recently reported that a Middle East company had agreed a £25million deal to become the new shirt sponsor for next season, with the Times stating that it is not a company from Saudi Arabia.
However, a new report from Sky News suggests otherwise.
Sela the new favourite to become Newcastle’s new shirt sponsor
According to Sky News, Saudi Arabian events company Sela is the new favourite to become Newcastle’s new shirt sponsor ahead of next season.
The report claims that Sela are in advanced negotiations with the club and that a deal could be announced next month ahead of the release of the new kit. However, the report from Sky News adds that the deal could still collapse.
A deal with a Saudi Arabian company will need Premier League approval, just like every sponsorship deal, after the rules were changed following Newcastle’s takeover.
Shortly after the takeover went through, other clubs were worried that the Magpies would agree over-inflated sponsorship deals with Saudi Arabian companies to boost their revenue. That is despite the fact that multiple Premier League clubs already have sponsorship agreements with companies that their owners are affiliated with.
Regardless, new rules state that each deal will now be scrutinised by the Premier League to ensure it represents fair market value. Of course, Newcastle’s sponsorship potential has now increased following Champions League qualification.
It is no real surprise to hear that a company from Saudi Arabia is the favourite to replace FUN88, and any deal will provide a fresh spotlight on the club’s current ownership.