Newcastle United have reached a new shirt sponsor agreement with a Middle Eastern company worth £25 million per year, as per The Times.
The report hasn’t revealed the whereabouts of the company but states that it is not from Saudi Arabia, home to Newcastle’s owners.
The Magpies have been searching for a new shirt sponsor after agreeing to end the partnership with Fun88 next month.
The deal runs until 2025, but the Premier League giants have decided to pull out early to secure a more lucrative sponsorship. The new deal is worth four times more than the previous one.
Magpies have punched above their weight this season, heading to a top-four finish in the Premier League and a place in the Champions League after nearly two decades.
Those exceptional performances on the pitch are set to reflect off it, with the Magpies poised for a significant boost in revenue.
It will also help them in the transfer market, with reinforcements needed this summer.
The Magpies’ transfer business has been productive with Kieran Trippier, Bruno Guimaraes, Nick Pope, Sven Botman and Alexander Isak contributing to the club’s success.
More high-profile transfers are being targeted, with James Maddison, Raphinha, Declan Rice, Scott McTominay and James Ward-Prowse among the potential targets.
Newcastle, who are third in the Premier League table, have been in scintillating form after back-to-back dominant victories over Tottenham Hotspur and Everton. They face Southampton this weekend.