English top-flight football club, Newcastle United are in the market for a new front-of-shirt sponsor after negotiating an early release from their deal with Chinese sports betting brand Fun88.
The Premier League outfit initially signed a deal with Fun88 in 2017, before inking a ‘long-term’ extension with the firm in July 2020. The initial contract was reportedly worth in the region of £6.5 million per season.
However, the pair have agreed to part ways after the 2022/23 campaign. That will open the door for Newcastle to secure a more lucrative main commercial sponsor, following their takeover by Saudi Arabia’s public investment fund (PIF) last October.
There has been speculation that the club will seek a pact with a large Saudi company such as the Saudia airline or energy firm Aramco.
In December, a temporary ban on owner-related sponsorship deals in the Premier League was lifted, although clubs are now reportedly required to seek approval on deals worth more than £1 million.
Meanwhile, Newcastle are close to agreeing a deal with the Botswana tourist board for sleeve sponsorship this season. The club’s previous agreement with travel search engine Kayak expired at the end of 2021/22.
