A Saudi events business is in advanced talks to become Newcastle United’s new shirt sponsor, in a deal that will put new Premier League rules on related party transactions to the test.
Sela, which works in dozens of countries and has organized sporting events including as the yearly Race of Champions, is said to be in advanced talks with the Magpies about becoming their largest commercial partner.
According to sources, Sela is now the frontrunner to replace Fun88 as Newcastle’s sponsor, with Champions League football poised to return to St James’ Park after a lengthy absence.
According to Skysport If the talks are successful, an agreement may be announced as soon as next month, in time for replica kits to be created before the start of the new season in August.
One insider warned that the talks could yet break apart.
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The company was started in 1995 as Sela Sport, and it claims to be Saudi Arabia’s first athlete representation organisation to be recognized by FIFA.
It has strong ties to the Saudi men’s national team, which competed in last year’s World Cup in Qatar and caused a major upset by defeating eventual winners Argentina in the group stage.
Sela has subsequently expanded into other sports as well as non-sporting events, and claims to have organized events attended by more than 15 million people.
Newcastle’s new sponsor will undoubtedly draw significant scrutiny from the Premier League and rival clubs, especially given Sela’s Saudi Arabian headquarters.
Because of Saudi’s considerable financial firepower, several top-flight clubs objected to the club’s £305 million takeover by the Gulf state’s Public Investment Fund (PIF) in 2021.
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