Amanda Staveley 'confident' that Newcastle will be able to agree sponsorship deals with Saudi Arabian companies
"The Sports Direct signs I'm looking forward to coming down."
Newcastle director Amanda Staveley is confident the club will be able to agree new sponsorship deals with Saudi Arabian companies by the end of the month.
Last month, the Premier League enforced a five-week ban on related-party sponsorship deals, but at a meeting in London on Thursday (11 November), it was agreed that the temporary ban would be lifted after their next meeting in two weeks.
According to the Daily Mail, the Premier League have organised a working party to bring in new rules to ensure that any related-party sponsorships - such as Manchester City's naming-rights and shirt deals with Etihad Airways - are required to be set at a fair market value.
The working party has been set-up with it looking increasingly likely that the Magpies will secure a number of commercial agreements with Saudi firms.
Staveley claimed on Thursday that by the end of the month, Newcastle will be in a better position to activate new contracts - which would ensure that new manager Eddie Howe is able to overhaul Newcastle's squad during the January transfer window, due to increased funding.
Additionally, it would allow the club to finally remove the Sports Direct signage that covers a significant amount of the stadium.
Amanda Staveley: “The Sports Direct signs I'm looking forward to coming down. It's a slight frustration when I go into the stadium and I try and take a picture which doesn't have Sports Direct in it.” #nufc
— NUFC360 (@NUFC360) November 11, 2021
"It is in the Premier League's hands, but we will be seeking to do sponsorship deals as fast as possible," said Staveley. "The moratorium does not stop us from working on them, getting ready for that time now. So it is really important.
"Our concern is that the process the Premier League do is quick enough so after we close the moratorium we can get sponsorships out. Obviously that's a really important part of the process.
"The Sports Direct signs I'm looking forward to coming down. It's a slight frustration when I go into the stadium and I try and take a picture which doesn't have Sports Direct in it."
Staveley has insisted that Howe will be given money to spend in January, even if the expected increase in sponsorship deals take longer to complete.
She added: "We will inject our own money into the January transfer window.
"We are committed to investing in this club. We do not need sponsorship revenue to do that. We've already invested £38million [of equity] last week and we'll invest whatever we need to enter into the transfer window. So we're not stupid.
"We know January transfer windows are not where we really want to be. We're committed to this club at every level."
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