On October 19, the Extraordinary Meeting of premier League teams passed a temporary bill intended to restrict Newcastle's funding through sponsorship (extended reading: The Premier League prohibits bosses from injecting capital through sponsorship Newcastle against Manchester City abstaining), the bill passed at that time lasted for 3 weeks, but within 3 weeks, 18 teams (except Manchester City and Newcastle) or further discussions on long-term measures to restrict Newcastle's capital injection, Manchester City is likely to be implicated.
While the policies of the Premier League, which are dominated by the 18 teams, are ostensibly in effect for all teams, the one most affected is undoubtedly Newcastle United. It is reported that similar to the idea of preventing vicious capital injection competition, in the most "krypton" league - the Premier League, has long existed, but the Saudi sovereign fund into Newcastle, catalyzing the process of the teams to reach an agreement on policy formulation.
In an interview with CNBC on October 21, Saudi Finance Minister Mohammed Al-Jadan slammed the Premier League's 18 team's approach: "If people are worried about competition between clubs, that may be a good thing. The addition of serious competitors like us will be beneficial to the development of the entire football industry. As for sponsorship, we sponsor not only the teams we hold, but also some other teams. As for sponsoring Newcastle? Of course we have sponsorship opportunities. ”
"PIF invests not only in football clubs, but also in stadiums, youth training and surrounding facilities. At the same time, PIF also invests in new technologies, real estate, industry and agriculture. Saudi Finance Minister said.