Newcastle agree massive new shirt sponsor with Saudi-based firm
The Independent Newcastle United have confirmed a new front-of-shirt sponsorship deal with Sela, a Saudi Arabian events and experiences organisation.
The St. James Park club describe the arrangement as a multi-year partnership, and while no details over the financial arrangements were given by the club, several reports have placed the deal in the 25 million per year bracket.
A previous arrangement with Fun88 has been cut short, claim reports, and while no financial details have been made public over the exact value of that arrangement, the initial agreement was worth around 6.5m per year. An extension and potential renegotiation has occurred since that partnership started in 2017. Fun88 have been retained as an official Asian betting partner, the club say.
The new shirt sponsor, however, is likely to be seen as a major test of the new Premier League related-party deals and market value rules.
Selas website states the company is owened by the Public Investment Fund (PIF), who are the primary owners of Newcastle United. The clubs chief executive Darren Eales said Sela were chosen following a highly competitive commercial process.
