"The Magpies, who were taken over by the Public Investment Fund (PIF) in October 2021, the sovereign wealth fund of Saudi Arabia, have often struggled to generate legitimate cashflow options despite their undeniable riches. But after the Premier League and Manchester City came to an agreement over associated Party Transaction (APT) rules this week, Newcastle may now have been handed an upper hand in their hopes to once again challenge at the very top."
"It is worth noting that ATP rules were put in place to stop clubs such as Newcastle United, Aston Villa and even Everton to an extent, challenging the big six in the Premier League. The Magpies wanted to agree a bigger deal with Saudi Arabian firm 'Sela', but the Premier League blocked the true value of the sponsorship due to what they believed were inflated market values."
Newcastle United were taken over by the Public Investment Fund (PIF) in October 2021 and have struggled to generate legitimate cashflow options despite substantial financial backing. Manchester City successfully challenged flaws in associated Party Transaction (APT) rules and reached a binding agreement with the Premier League this week. Those changes could allow Newcastle to pursue larger, groundbreaking sponsorship deals that were previously blocked as inflated by the league. ATP rules aimed to limit clubs such as Newcastle, Aston Villa and Everton from challenging the traditional big six. Newcastle sold Yankuba Minteh and Elliot Anderson in June 2024 to comply with Profit and Sustainability Rules (PSR). Amanda Staveley criticised the PSR.
Read at www.fourfourtwo.com
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