Finance guru: Newcastle United deploy chiefs on 'scouting' mission as £30m-a-year deal on cards
The Newcastle United commercial team will use their stay in Saudi Arabia to “scout the area” with a view to securing more sponsorship deals.
That is the view of finance expert Doctor Dan Plumley, speaking exclusively to Football Insider about the Magpies’ upcoming trip to their owners’ homeland.
An industry source told Football Insider on Thursday (1 December) that the Newcastle commercial team will meet with representatives from PIF and SAUDIA about a potential sponsorship deal with the airline.
SAUDIA have already signed up as the official sponsor for the Tynesiders’ tour of the country which will see Eddie Howe’s side face Al-Hilal in Riyadh next Thursday (8 December).
The mooted partnership, which could encompass both front-of-shirt and the naming rights for St James’ Park, could be worth as much as £300million over 10 years.
Newcastle already have in place a sleeve sponsorship deal with PIF-linked Noon.com, and CEO Darren Eales has claimed that they will continue to target the Saudi market going forward.
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Plumley suggests that the mid-season trip to the Middle East will provide the perfect opportunity to vet new commercial partners.
“I think there are two factors to this,” the Sheffield Hallam University expert told Football Insider’s Adam Williams.
“We are in a digital world but you can’t replicate a face-to-face meeting and the owners meeting with the commercial department is important.
“But it also gives the commercial team an opportunity to scout out the area as well. They can get a feel for it on the ground.
“It makes perfect sense because we know they want to concentrate their focus on the region. We know it is going to be fruitful for them in the future.
“There are certain ways to do business, business etiquette, especially for deals of this size. You expect people from the club to meet face to face.”