Newcastle are confident they WILL be able to agree sponsorship deals with Saudi Arabian companies by the end of November as new director Amanda Staveley reveals work is in progress to get rid of Mike Ashley’s Sports Direct branding from St James’ Park
- The Premier League imposed a ban on related-party sponsorship deals
- It’s been agreed that the moratorium will be lifted at the next meeting
- Amanda Staveley is confident Newcastle can obtain Saudi sponsorship deals
- This will enable them to get rid of Mike Ashley’s Sports Direct Branding
- The branding at St James’ Park is the last remnant of Ashley’s ownership
Newcastle director Amanda Staveley is confident the club will be able to agree new sponsorship deals with Saudi Arabian companies by the end of the month which would also enable them to remove the loathed Sports Direct branding from St James Park.
The Premier League imposed a five-week ban on related-party sponsorship deals after Saudi’s Public Investment Fund bought Newcastle last month, but at a meeting of the top-flight clubs in London today it was agreed that the moratorium would be lifted following their next meeting in a fortnight.
The Premier League have set up a working party to bring in new rules to ensure that any related-party sponsorships, such as Manchester City’s naming-rights and shirt deals with Etihad Airways, must be set at a fair market value in anticipating of Newcastle signing up a host of commercial agreements with Saudi firms.
Amanda Staveley (left) is keen to rip down the Sports Direct branding at St James’ Park
Staveley claimed today that the club will be in a position to activate new contracts later this month which would provide new manager Eddie Howe with funding to overhaul Newcastle’s squad during the January transfer window, as well enabling them to rip down the last vestiges of the Mike Ashley regime, the Sports Direct signage.
‘It is in the Premier League’s hands, but we will be seeking to do sponsorship deals as fast as possible. The moratorium does not stop us from working on them, getting ready for that time now. So it is really important.
‘Our concern is that the process the Premier League do is quick enough so after we close the moratorium we can get sponsorships out. Obviously that’s a really important part of the process.
Newcastle are confident they can agree sponsorship deals with Saudi Arabian companies this month
The Sports Direct branding is the last remnant of Mike Ashley’s ownership of the club
‘The Sports Direct signs I’m looking forward to coming down. It’s a slight frustration when I go into the stadium and I try and take a picture which doesn’t have Sports Direct in it.’
Staveley has promised Howe money to spend in January even if the proposed flood of sponsorship deals take longer to activate.
‘We will inject our own money into the January transfer window,’ she said.
‘We are committed to investing in this club. We do not need sponsorship revenue to do that. We’ve already invested £38million [of equity] last week and we’ll invest whatever we need to enter into the transfer window. So we’re not stupid.
‘We know January transfer windows are not where we really want to be. We’re committed to this club at every level.’
Staveley has promised new manager Eddie Howe money to spend in the January window