Newcastle will be able to sign players on loan from sides also controlled by their Saudi owners in January, after a vote by Premier League clubs on a temporary ban on related-party loans which did not receive the required support.
Twelve clubs voted in favour of a block on loan moves between teams under the same ownership.
That was two short of the two-thirds majority needed for it to be passed.
The Premier League was understood to be in favour of introducing the ban.
While clubs have been able to sign players on loan from clubs that are under the same ownership for some time, the matter has been heightened by Newcastle being owned by Saudi Arabia’s Public Investment Fund (PIF) since 2021.
It is understood Newcastle, Manchester City, Chelsea, Sheffield United, Everton, Wolves, Nottingham Forest and Burnley voted against the ban.
Newcastle, whose £305m Saudi Arabian-backed takeover was completed in October 2021, have been linked with a move for former Wolves captain, Ruben Neves, from Saudi Pro League side, Al-Hilal.
The ban was proposed as a temporary measure until a concrete solution could be agreed before the summer transfer window.
It was only set to apply to incoming loans, not outgoing.
PIF, which provided 80 per cent of funds for the Newcastle takeover, took over four of the leading Saudi Arabian clubs in June Al-Nassr, Al-Hilal, Al-Ahli and Al-Ittihad.
Asked in November whether he would consider signing players from PIF-controlled Saudi sides if allowed, Newcastle manager, Eddie Howe, said he was “open to signing anyone if they are good enough”.-
Other high-profile former Premier League players currently at PIF-owned clubs include Cristiano Ronaldo (Al-Nassr), Roberto Firmino (Al-Ahli), Sadio Mane (Al-Nassr) and Riyad Mahrez (Al-Ahli).
But it is a potential January move for 26-year-old Neves, who joined Al-Hilal for £47m in June, which could help the Magpies fill the midfield gap created by Sandro Tonali’s 10-month ban for breaching betting rules.
PIF, which is governed by Newcastle chairman, Yasir Al-Rumayyan, has assets of £250bn making Newcastle one of the richest clubs in the world.
Newcastle are not the only Premier League team part of a multi-club ownership model. Manchester City are one of 13 clubs along with La Liga leaders, Girona, under the control of the City Football Group.
The Premier League has been under mounting pressure to agree improved level of support for the football pyramid. A report by the Culture, Media and Sport (CMS) Select Committee in June said if no funding plan is reached soon, the government should accelerate setting up an independent football regulator “to impose a deal”.— BBC
