December 3, 2023
The English Premier League passes the 'anti-Newcastle and Manchester City' law that could change the market

The English Premier League passes the ‘anti-Newcastle and Manchester City’ law that could change the market

The law prohibits clubs from receiving sponsorship related to their owners

clubs Premier League On Monday it issued a temporary rule to prevent teams from making sponsorship deals with companies tied to their owners, sources said ESPN, to an extent that may restrict the new Saudi owners to Newcastle.

First reported by The Guardian, Newcastle and Manchester They were the only two clubs to vote against the proposals, which will run for a month. The Newcastle legal team argued that the amendment was illegal.

Financial Fair Play rules say clubs must restrict their spending based on their income – which includes sponsorship deals. However, sponsorship cases involving companies linked to club owners are being investigatedCity faces a Premier League investigation into the deal with the Emirates airline, Etihad Airways.

The city of Abu Dhabi, which is affiliated with Sheikh Mansour, denied any wrongdoing.

Earlier this month, a Saudi Arabia-led takeover of Newcastle was completed, with the Public Investment Fund buying the Premier League club from former owner Mike Ashley in a deal worth just over £300m..

The Premier League, which was pressured to veto the deal last year, said it had received “legally binding” assurances of a clear separation between the Public Investment Fund and Saudi Arabia, even though the Public Investment Fund is headed by Saudi Crown Prince Mohammed. Bin Salman.

The club’s new owners saw their first league game on Sunday, with a 3-2 loss to Spain Tottenham, M. St. James’ Park.