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Man City abstains as Premier League clubs ‘vote in favor of new Premier League rule’ following Newcastle takeover
According to the Guardian, All 18 Premier League clubs bar Newcastle and Man City voted in favor of new Premier League legislation in the aftermath of Newcastle United’s takeover.
The club was purchased earlier this month as the largest stakeholder in a £300 million deal by Saudi Arabia’s Public Investment Fund (PIF), whose chairman is Mohammed bin Salman, the Middle Eastern state’s crown prince.
The takeover elicited joy from many fans at St James’ Park, but it has been widely condemned by the rest of the football world.
Liverpool manager Jurgen Klopp expressed concerns about the takeover last week, and it appears that other Premier League clubs have similar concerns.
According to a report in The Guardian, all 20 English Premier League clubs met this week to discuss new legislation regarding commercial arrangements with sponsorship deals.
According to reports, almost all Premier League clubs, including Everton and Liverpool, voted in favor of enacting legislation to prevent clubs from striking lucrative sponsorship deals.
The vote was reportedly passed 18-2, with Newcastle and Manchester City voting no.
Alternatively, it could be regarded as 18-1-1. The Athletic, reports that City “abstained” from the vote, while Newcastle “believes that the rule is anti-competitive, as supported by their own legal advice, and may be unlawful.”
City has a sponsorship agreement with Etihad Airways, which is owned by the Abu Dhabi government.
Sheikh Mansour, the club’s majority owner, is a member of Abu Dhabi’s royal family and the UAE’s deputy prime minister.
Despite the fact that the vote was successful, the report states that the legislation, which is set to go into effect next month, will only be temporary.
However, it has been claimed that the vast majority of Premier League clubs want the legislation to remain in place indefinitely.
According to the report, the Premier League’s 19 clubs wanted a special meeting with the Premier League to find out why the takeover at Newcastle had been approved.
That meeting, which appears to have occurred last Tuesday, reportedly resulted in the most recent meeting on Monday with all 20 top flight clubs and the passage of new legislation.
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Man City abstains as Premier League clubs ‘vote in favor of new Premier League rule’ following Newcastle takeover
