Newcastle set to land Saudi company as shirt sponsors
A Saudi events company is in advanced talks to become the new shirt sponsor of Newcastle United a deal that will test new Premier League rules on related party transactions.
Sela, which operates in dozens of countries and has organised sporting events such as the annual Race of Champions, is in detailed negotiations about becoming the Magpies’ biggest commercial partner.
Sources said Sela was now the leading contender to replace the gambling company Fun88 as Newcastle’s sponsor, with Champions League football set to return to St James’ Park after a lengthy absence.
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If the talks are successfully concluded, a deal could be announced as soon as next month, in time for replica kits to be manufactured ahead of the new season kicking off in August.One source however cautioned that the discussions is not sound proof yet.
The company was founded in 1995 as Sela Sport, and claims to have been the first athlete representation group from Saudi to be recognised by FIFA.
It has extensive links to the Saudi men’s national team, which was among the participants at last year’s World Cup in Qatar and caused a huge upset by beating the eventual winners, Argentina, at the group stage.
Sela has since diversified into other sports as well as non-sporting events, and says it has managed events that have been attended by more than 15m people.