Saudi firm sponsors Newcastle United in £25m-a-year deal

NEWCASTLE: Saudi company Sela has been announced as Newcastle United’s new front of shirt sponsor in a multi-year deal worth around £25 million ($31.4 million) a year to the club.

The Magpies announced the record-breaking deal on Friday as they launched their new kit for the 2023/24 Premier League and Champions League campaigns. 

#NUFC is delighted to announce a new multi-year front of shirt partnership with @Sela!  

— Newcastle United FC (@NUFC) June 9, 2023

Sports event agency Sela, which describes itself as “the driving force behind a wide range of spectacular events, iconic destinations, and attractions in the Middle East”, replaces Chinese betting firm Fun88.

The deal dwarfs the near £6 million-a-year agreement with Fun88, and further strengthens the club’s Saudi connections, with Noon the club’s sleeve sponsor again next season. While the length of the deal was not disclosed, it is widely expected to make Newcastle upwards of £100 million over the contract.

Ibrahim Mohtaseb, Senior Vice President at Sela, said: “This partnership is about Sela being part of the next chapter for the club.

“It’s about us supporting the men’s, women’s and academy teams. And it’s about bringing to life world-class experiences, which is at the heart of what we do as a company.

“For Sela, it all started with football more than 25 years ago. Today, we have grown into a multi-faceted company creating experiences that millions of people enjoy each year, across a range of sport, entertainment, hospitality and retail settings. Now we are embarking on the next stage of our international growth.

“Where we can put our resources and innovation to good use for the benefit of fans, the club and the wider communities it serves, we will do