Newcastle: Premier League golf equipment vote to dam sponsorship offers linked to house owners

Newcastle followers lined the streets exterior St James’ Park earlier than kick-off

Premier League golf equipment have voted to briefly block groups agreeing profitable sponsorship offers linked to a membership’s house owners after the Saudi Arabia-backed £305m takeover of Newcastle.

Eighteen golf equipment voted in favour of the ban at an emergency assembly on Monday.

Newcastle voted in opposition to and Manchester Metropolis abstained, with each questioning the legality of the transfer.

It means a brief one-month ban on offers linked to membership house owners whereas the problem is debated additional.

High-flight groups complained to the league after the Newcastle takeover was accomplished on 7 October due to frustration about how the deal handed the house owners’ and administrators’ check.

Final week, Leeds proprietor Andrea Radrizzani stated Monetary Truthful Play guidelines should be enforced across the takeover to make sure the 20 Premier League golf equipment are “taking part in the identical recreation”.

The Premier League stated it authorised the takeover after receiving “legally binding assurances” that the Saudi state wouldn’t management the membership.

The Public Funding Fund (PIF), which is able to present 80% of funds for the deal, is seen as separate to the state.

That is regardless of the Crown Prince of Saudi Arabia, Mohammed bin Salman, being listed as chair of PIF.

PIF has belongings of £250bn, making Newcastle one of many richest golf equipment on the earth.

A number of main European golf equipment have sponsorship offers linked to their house owners.

Manchester Metropolis’s stadium, coaching complicated and shirts are sponsored by Etihad, the airline of Abu Dhabi. Metropolis’s Abu Dhabi house owners took management of the membership in 2008.

Metropolis efficiently overturned a two-year ban from European membership competitors for committing breaches of Monetary Truthful Play guidelines after they had been cleared of all the main prices round manipulation of sponsorship offers at a Court docket of Arbitration for Sport enchantment final 12 months.

The Premier League’s personal investigation into Metropolis for breaching FFP guidelines has but to succeed in a conclusion.

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