The new owners of English football club Newcastle United can now sign new contracts with sponsors, when the Premier League administration canceled the temporary measure that did not allow this.
The Saudi Public Investment Fund (PIF) consortium took a majority control of the club in early October, but competition promptly prompted a temporary ban on new agreements to eliminate potential financial fraud against The Magpies.
However, Premier League clubs on Tuesday adopted new rules under which new business agreements with sponsors must be approved by the competition’s management. After the new, the Premier League will assess whether agreements for partners on shirts or when naming a stadium are artificially “overrated” and concluded at a reasonable value.
Newcastle United’s rivals feared that the entry of the new owner would lead to the signing of contracts with friendly companies, which would allow a commitment to financial fair play, while an uncontrollable amount of money would flow into the club. After the new release, individual clubs of the highest competition can lose no more than 105 million pounds during the three-year “slipping” period, which amounts to around 123 million euros.
PL clubs must also announce any payments to players, coaches and other officials coming from affiliates in order to assess whether this is legitimate work and not artificial pay cuts.
Slovakia goalkeeper Martin Debravka is also part of Newcastle United, and the club is moving to the Premier League tables today and is struggling to stay at the top of the domestic competition. He took the penultimate 19th place in the competition evaluation, scoring only 10 points out of 16 duels, plus the last Norwich. These rescue teams are currently losing three points.
International human rights organizations, including Amnesty International, have long criticized the long-awaited change of ownership of English football club Newcastle United. The new owners bought the club for 305 million pounds (about 360 million euros) and as expected, they sacked coach Steve Bruce, who was replaced by Eddie Howe. Newcastle United were the four-time champions of England in 1905, 1907, 1909 and 1927.
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