- The North East club are enjoying their best season in decades under Eddie Howe
- Deal with Fun88 was agreed before the takeover by Saudi Arabia’s PiF
- Agreement with Middle Eastern company said to be worth £25m-per-year
Newcastle have reportedly agreed a deal worth £25m-a-year for a Middle Eastern company to become their new principal shirt sponsor.
The North East club are currently enjoying their best season in decades, led by Eddie Howe and backed by the enormously wealthy Saudi Arabia Public Investment Fund.
According to The Times, Newcastle have struck a deal with an unnamed company from the Middle East that will see their per-annum shirt sponsorship income more than treble, rising from £8m to £25m.
It is said the company in question is not from Saudi Arabia, but another country in the region. The report states that the new commercial agreement will be revealed next month by the St James’ Park club.
Currently sponsored by gambling firm Fun88, an agreement that was struck before the Saudi-backed takeover in October 2021, Newcastle agreed a deal to cease that partnership two years early last year.
Newcastle are set to announce a new principal shirt sponsor next month, it has been reporte
Eddie Howe has led Newcastle to the brink of the Champions League – enormously increasing the club’s commercial attractiveness
Newcastle insist that the new deal falls within the Premier League’s FMV regulations and is not unduly connected to the owners of the club, the Saudi PiF
Source : Daily Mail