Newcastle sign shirt sponsorship deal | The Express Tribune

[ad_1]
LONDON:

Newcastle United signed a multi-year shirt sponsorship deal on Friday with a Saudi Arabian company linked to the club's owners, an agreement which may be scrutinised under the Premier League's rules on associated party transactions.

British media reported Newcastle's deal with events company Sela was worth 25 million pounds ($31.42 million) annually. Sela will replace Chinese gambling firm Fun88 on the front of Newcastle's match day shirts.

Sela's website says it is owned by the country's sovereign wealth Public Investment Fund (PIF), which also holds an 80% stake in Newcastle.

Newcastle will play in the Champions League next season for the first time in 20 years after finishing fourth in the league in their first full season since the PIF-led takeover, which was rubber-stamped in October 2021.

Following the sale, the Premier League introduced a temporary ban on clubs striking sponsorship agreements with firms linked to their owners.

The ban was lifted two months later, but the league said such will be subject to scrutiny from an independent panel to ensure they reflect a "fair market value" and are not a means of distorting revenue to allow for greater spending under Financial Fair Play rules.

PIF is chaired by Saudi Arabian Crown Prince Mohammed bin Salman and bankrolls LIV Golf, which stunned the sport this week by announcing an agreement to merge with the PGA Tour and the DP World Tour.

Earlier this week, PIF also took a majority ownership stake in four of the country's top soccer clubs, including those of Cristiano Ronaldo and Karim Benzema.

[ad_2] Source link https://worldnews2023.com/stports/newcastle-sign-shirt-sponsorship-deal-the-express-tribune/?feed_id=297011&_unique_id=6618a510b58d7

Comments

Post a Comment

Popular posts from this blog

Real Housewives of Beverly Hills couple Kyle Richards and Mauricio Umansky ‘seperate’

Image
[ad_1] Stay ahead of the trend in fashion and beyond with our free weekly Lifestyle Edit newsletter Stay ahead of the trend in fashion and beyond with our free weekly Lifestyle Edit newsletter Real Housewives of Beverly Hills ’ Kyle Richards and Mauricio Umansky have reportedly separated after 27 years of marriage. Richards joined the popular Bravo reality series in 2010 with Umansky making regular appearances over the last 13 years. “Kyle and Mauricio have been separated for a while now but are still living under the same roof. They remain amicable as they figure out what’s next for them and their family,” a source confirmed to People on Monday (3 July). The separation will affect both Real Housewives , which is gearing up for its 13th season, and the Netflix reality series Buying Beverly Hills, which follows Umansky’s real estate business as two of their daughters work as agents. Richards has already filmed the second season of the Netflix show, according to Deadline . The I...
Read more

Pfizer RSV vaccine for infants has 'generally favorable' safety data, FDA staff say

Image
[ad_1] Blood sample for respiratory syncytial virus (RSV) test Jarun011 | Istock | Getty Images U.S. Food and Drug Administration staff on Tuesday said Pfizer's vaccine that protects infants from respiratory syncytial virus has "generally favorable" safety data. The FDA staff made the conclusion in briefing documents ahead of a meeting on Thursday when a panel of external advisors to the agency will discuss whether to recommend full approval of the RSV shot . The advisors will vote on whether Pfizer's late-stage clinical trial data on the vaccine supports its safety and efficacy. The FDA typically follows the advice of its advisory committees, but is not required to do so. The agency is slated to make a decision on whether to clear the shot in August before RSV season in the fall. If approved, Pfizer's jab would become the world's first vaccine that protects infants against RSV.  RSV usually causes mild, cold-like symptoms. But infants and older ad...
Read more

Casemiro has improved Man Utd: Maguire | The Express Tribune

Image
[ad_1] LONDON: Casemiro scored twice as Manchester United turned on the style to beat 10-man Reading 3-1 and reach the FA Cup fifth round on Saturday as Tottenham forward Son Heung-min ended his recent goal drought. On a day lacking major shocks, there were wins for Premier League strugglers Leeds, Leicester and Southampton but Fulham were held by Championship side Sunderland. United – fourth in the Premier League and within touching distance of a place in the League Cup final – produced more compelling evidence they are back on track under new manager Erik ten Hag . The home side took the lead at Old Trafford in the 54th minute when Anthony produced a defence-splitting pass to find Brazil teammate Casemiro, who lifted the ball over goalkeeper Joe Lumley. Four minutes later United were two up, when Casemiro let fly with a stunning strike from outside the box to find the bottom corner. With the home side brimming with confidence, substitute Fred produced an audacious flic...
Read more