Sources: Newcastle United have agreed £3m+ deal

The deal between Newcastle United and Saudia Airlines is worth £3million per season, sources have told Football Insider.

The Tyneside club announced last Thursday (19 October) that they have extended their partnership with the Saudi Arabian-based airline company.

Saudia first partnered with Newcastle last season, and the two parties have now agreed on a multi-year extension.

Sources have told Football Insider that the deal is worth £3million per year to Newcastle - a fee that passed the Premier League’s Fair Market Value assessment.

Due to Saudia’s links with PIF - the sovereign wealth fund that also owns a majority stake in Newcastle - the Premier League ensured that the value of their partnership was considered fair compared to similar deals in the top flight.

Newcastle’s Saudia deal is very close in value to the agreement struck by Chelsea and Oman Air this summer

Football Insider revealed in July that Chelsea’s Oman Air deal is worth £10million across three years.

Newcastle have previously faced backlash for signing deals with Saudi-based companies, with the club facing allegations of sportswashing following their £25million deal with Sela this summer.

However, the Premier League saw no issue with the value of Newcastle’s new ‘Official Airline Partner’ deal.

Saudia are set to provide flights for Newcastle’s away Champions League matches this season, while they are also expected to host their travel for future pre-season tours.

The agreement will provide a boost to Newcastle’s commercial revenue, which was recorded at just £33million in their latest 2021/22 accounts.

In other news, Newcastle United blocked from completing two signings by FFP