Newcastle United was taken over two weeks ago, Burnley is one of 18 Premier League Football clubs voting to prevent clubs from signing sponsorship deals with their owners. The decision was made at an emergency Premier League Football club meeting on Monday following the takeover of Saudi-led Newcastle United about two weeks ago.
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The Magpies were taken over by an organization that included CPP Capital Partners, Ruben Brothers, and the Saudi Investment Fund. Since the big money was taken, concerns have been expressed by Toon’s new owners, with 80 percent of the ownership of Saudi Arabia’s state fund and the remaining 20 percent divided equally between the new director Amanda Staveley and the Reuben brothers.
Since the takeover, many clubs have expressed concern over Newcastle united ability to hold on to football, intimidating others, due to the wealth of the owners. Now, 18 Premier League Football clubs, including Newcastle United, have voted to allow ice to be made on commercial and sponsorship agreements, linking the owners of any Premier League Football club.
Manchester City Football club decided not to comply and Newcastle voted in favor of the new law, reportedly because they agreed with Newcastle United legal advice that the amendment was illegal. One news channel reports that senior airlines have complained to the league against Newcastle on October 7, over ‘frustration over how the agreement passed the owners’ and directors’ examinations. For more to know About Liverpool Football Tickets.
Premier League Football clubs, under the relevant gaming rules, are allowed to make a maximum loss of £ 105million over three years. Any sponsored commercial agreements can increase the club’s revenue and allow them to set rules and spend more money, as much as possible on transfers, than they are legally allowed to do.
The temporary detention will only take place for one month while negotiations are held on a permanent change of law that all 20 parties must comply with. The chief executive of the Premier League Football club, whose name has not been released, said: If we did not have this ban, there would be no barrier for Newcastle to sign a patent agreement with a Saudi company linked to its owners.
They could have used that money to buy players in January and get our fair play rules. Newcastle’s new owners, who watched Sunday’s 3-2 defeat by Tottenham Hotspur, have high hopes of moving the club forward, with goals such as winning the Premier League Football club title in the future set.
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