Premier League golf equipment on Monday handed a short lived rule to prevent groups from agreeing sponsorship offers with corporations connected to their homeowners, a transfer that would limit Newcastle United’s new Saudi homeowners, the Parent newspaper reported.
Monetary Truthful Play regulations prohibit membership’s spending in line with their earnings, together with sponsorship offers, however preparations involving corporations intently connected to membership’s homeowners have come below scrutiny.
Newcastle and Manchester Town, owned through Abu Dhabi’s Sheikh Mansour, voted towards the proposals however had been defeated 18-2 on the assembly, the Parent reported.
The Premier League declined to remark at the file of the confidential assembly.
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Manchester Town, which has a sponsorship handle the United Arab Emirates corporate Etihad Airlines, has been going through an investigation from the Premier League into its compliance with the league’s monetary regulations. Town has denied any wrongdoing.
The brand new rule will probably be in power for one month whilst a operating birthday celebration appears at whether or not to make an enduring rule exchange to hide the problem.
The Parent stated that Newcastle’s felony workforce had argued that the modification used to be illegal. Newcastle didn’t right away reply to a request for remark.
Previous this month, a consortium led through Saudi Arabia’s Public Funding Fund (PIF) and subsidized through minority traders PCP Capital Companions and RB Sports activities & Media, purchased the North East membership.
The Premier League, who got here below force to dam the deal remaining yr, stated it had won “legally binding” assurances that there used to be transparent separation between PIF and the dominion of Saudi Arabia, regardless of PIF being chaired through the Saudi Crown Prince Mohammed bin Salman.