The Premier League has decided to impose a temporary ban on teams from making lucrative sponsorship deals. According to the reports of BBC, 18 teams have voted in the favor of the ban, at an emergency meeting which was called on Monday. The matter has become a buzz of the town after the Saudi Based PIF’s 350m pounds takeover of Newcastle United. Following this several top-flight teams complained it to the League, frustrated over the manner in which the deal passed the Owners’ and Directors’ test. It was Leeds owner Radrizzani who last week brought it to the notice of the Premier League about how the club’s takeover was breaching the Financial Fair Play guidelines.
However, the premier league said that it approved the takeover after receiving the legal billing allowances which assured that the club would not be controlled by the Saudi State, despite the Saudi Prince Muhammed Bin Salman being listed as a part of the PIF.
It is said that in the meeting, Newcastle voted against the ban, while Manchester City abstained from voting. Noticeably, Manchester City is the other club that is owned by an Abu Dhabi-based owner. Even their stadium training complex and shirts are Etihad an Abu Dhabi-based airline. Recently the club even overturned a two-year ban from European club competition which was imposed upon them for violating the Financial Fair Play rules.
The League however is still continuing a personal investigation into the matter.
