A Saudi events company is in advanced talks to become the new shirt sponsor of Newcastle United - a deal that will test new Premier League rules on related party transactions.
Sky News has learnt that Sela, which operates in dozens of countries and has organised sporting events such as the annual Race of Champions, is in detailed negotiations about becoming the Magpies' biggest commercial partner.
Sources said Sela was now the leading contender to replace the gambling company Fun88 as Newcastle's sponsor, with Champions League football set to return to St James' Park after a lengthy absence.
If the talks are successfully concluded, a deal could be announced as soon as next month, in time for replica kits to be manufactured ahead of the new season kicking off in August.
One source cautioned that the discussions could still fall apart
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