News Formal

Premier League's Newcastle shirt sponsor is latest Saudi investment in global sports

  • 📰 NBCLA
  • ⏱ Reading Time:
  • 24 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 59%

United States News News

United States United States Latest News,United States United States Headlines

Saudi Arabian events management firm Sela is the new shirt sponsor for the Magpies.

By The Associated PressNewcastle announced a shirt sponsor deal Friday with a Saudi Arabian company linked to the sovereign wealth fund that is the English soccer club’s majority owner and the new investor in golf's PGA Tour.

British media reported Newcastle's sponsorship by events management firm Sela is worth 25 million pounds annually on a multi-year deal. Newcastle will play in the Champions League group stage next season for the first time in 20 years after placing fourth in the Premier League. It was the first full season for Newcastle since a 300 million pound takeover in 2021 led by the Public Investment Fund which manages more than $600 billion of Saudi state wealth.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 319. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Senators puzzled by PGA merger with Saudi golf leagueThe PGA Tour has spent the last two years bitterly fighting LIV Golf, an upstart golf league owned by the Saudis. So when the two leagues announced that they would merge, news that shocked the sports world, it caused lawmakers to scratch their heads.
Source: dcexaminer - 🏆 6. / 94 Read more »