Sources: £300m Newcastle United deal could be agreed next week as sponsor named
Newcastle United strategists will hold potentially decisive talks over a permanent deal with SAUDIA during the upcoming trip to the owners’ homeland, sources have told Football Insider.
The club’s commercial team will soon fly to Saudi Arabia along with the players, coaching staff and executive department.
SAUDIA are sponsoring the mid-season tour which will see Eddie Howe’s side take advantage of a warm-weather training camp in Riyadh before facing Al-Hilal in a friendly next Thursday (8 December).
Football Insider revealed on Tuesday (29 November) that Newcastle are preparing for their next big commercial move, with talks underway over a deal that could be worth as much as £300million over 10 years.
A sponsorship broker has now told this site that the commercial department will convene with the Public Investment Fund and representatives from SAUDIA with a view to agreeing a deal in principle.
An official announcement, however, is likely to be held off until at least the spring.
It is understood that Newcastle would prefer to do business with a company not formally linked to the owners so as to avoid accusations of financial doping.
That eliminates firms such as Aramco, in whom PIF have a four per cent stake, and Noon.com, the Tynesiders’ sleeve sponsors for 2022-23.
SAUDIA are state-owned but legally independent of PIF, the nation’s sovereign wealth fund.
A shirt sponsorship deal would see them replace Chinese online bookmaker Fun88, whose deal expires at the end of the current campaign.
It is not known for certain whether SAUDIA are also interested in a naming rights deal for St James’ Park, but sports commercial expert Ben Peppi told Football Insider in October that it is likely the two sponsorship elements will be combined.
The Premier League’s Fair Market Value committee could approve a partnership worth up to £300m if the deal is structured this way over 10 years.
In other news, Newcastle United told to spend ‘serious money’ on Declan Rice after come-and-get-me plea today.