Premier League lifts temporary ban on owner-related sponsorship deals
The Saudi-led takeover of Newcastle led to a temporary ban being imposed
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.A temporary ban on owner-related sponsorship deals in the Premier League has been lifted.
The block on such transactions was imposed in October and backed by 18 top-flight clubs following the Saudi-led takeover of Newcastle United.
A working group of club executives, which included Magpies director Amanda Staveley was set up to look at ‘associated party transaction regulations’ and those rules have been agreed at a shareholders’ meeting on Tuesday.
It means owner-associated sponsorship deals will be permitted, provided they are deemed to represent fair market value. Remuneration of players and staff via owner-related entities are also covered by the new regulations. Any such payments must be properly disclosed.
The ban was extended on November 26 to allow the working group to finalise its proposals.
The moratorium was a shock. We did not expect that to happen. How could you imagine that all commercial deals would be off?
Staveley spoke about the impact of the temporary ban last month.
“This moratorium was so difficult for us. We’ve really taken a big battering. And so I’m hoping that we’ll get this lifted as quickly as possible,” she said.
“The moratorium was a shock. We did not expect that to happen. How could you imagine that all commercial deals would be off?”
The club took down Sports Direct signage from around St James’ Park last week, a hangover from the regime of previous owner Mike Ashley.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments