(Reuters) – Premier League golf equipment passing a short lived rule to cease groups from agreeing sponsorship offers with firms linked to their house owners exhibits Newcastle United’s rivals are anxious, Saudi Arabia’s Finance Minister Mohammed Al-Jadaan mentioned on Thursday.
Newcastle had been taken over earlier this month for 305 million kilos ($420.50 million) by a consortium 80%-led by Saudi Arabia’s PIF sovereign wealth fund which is chaired by the Saudi Crown Prince Mohammed bin Salman.
Tuesday’s Guardian newspaper reported that Newcastle had been the one membership to vote towards the brand new sponsorship rule which was authorized by 18-1 at an emergency assembly on Monday.
Manchester Metropolis, owned by Abu Dhabi’s Sheikh Mansour, abstained, in accordance with the report.
The brand new rule might be in power for one month whereas a working get together appears to be like at whether or not to make the association everlasting.
The Premier League authorized the Newcastle takeover after receiving “legally binding” assurances there was clear separation between PIF and the dominion of Saudi Arabia.
Al-Jadaan instructed CNBC https://twitter.com/CNBCMiddleEast/standing/1451035514862145544 he didn’t know the “technicalities of the affiliation within the UK (the Premier League).
“However I might say if individuals are anxious about competitors amongst golf equipment, and notably now that now we have invested in considered one of them, presumably it is a good signal that there’s doubtlessly a severe competitor coming their method.
“It is good for the entire soccer group.
“Sponsorship, notably, we do sponsorship not solely with golf equipment that we personal, we do sponsorship with completely different golf equipment… There might be loads of alternatives for sponsors,” he added.
“I do not comply with soccer however I might inform you I want they (Newcastle) would see the ambition come by and I am actually assured that with investments coming their method in the neighborhood and stadium, I believe we’ll see an enhanced membership.”
Newcastle supervisor Steve Bruce departed the membership by mutual consent on Wednesday after a winless begin to the Premier League season left the workforce within the relegation zone after eight video games.
($1 = 0.7253 kilos)
(Reporting by Rohith Nair in Bengaluru; Modifying by Ken Ferris)
