Tue. May 17th, 2022

Nwosu Chizoba David

A temporary ban on owner-related sponsorship deals in the Premier League has been lifted.

The block on those type of transactions was imposed in October and backed by 18 top-flight clubs following the Saudi-led takeover of Newcastle.

A working group of club executives, which included Magpies director Amanda Staveley, was set up to look at ‘associated party transaction regulations’ and those rules have been agreed at a shareholders’ meeting on Tuesday.

It means such deals will be permitted provided they are deemed to represent fair market value. Remuneration of players and staff via owner-related entities are also covered by the new regulations. Any such payments must be properly disclosed.

By Nwosu Chizoba David

Nwosu Chizoba David is a soccer lover and writer. He is a graduate of Biological Sciences, presently teaching in a secondary in Lagos.

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