Newcastle United is in search of a new sponsor for the upcoming season after terminating its partnership with Fun88. The online betting company had signed a three-year deal with the club in 2017 and renewed it in 2020 in a “long-term deal.” However, the club’s ambitions have changed drastically since being acquired by the Public Investment Fund of Saudi Arabia, PCP Partners, and RB Sports & Media for £305million last year, making the previous deal inadequate.
Newcastle’s decision to terminate the contract with Fun88 has not been disclosed, but they are now in talks with three Middle Eastern-based companies about a new deal worth around £25m per year. Despite spending over £220m on new players since the acquisition, the club has had to be cautious about Financial Fair Play obligations, and new sponsorship deals like this will boost their spending power as they aim to become a competitive force in English and European football again.
The hunt for a new sponsor comes after the club secured their spot in next season’s Premier League by defeating Sheffield United at home on May 7th. They now have two more games to play, and fans are eagerly anticipating who their new sponsor will be. As per reports from NewcastleWorld, discussions have taken place with three Middle Eastern-based companies, and an announcement is expected soon.
The partnership between Newcastle United and Fun88 may have ended, but the company thanked fans for their support in a message during Newcastle’s recent home game against Leicester City. “As the season draws to a pulsating finale, we wanted to extend our best wishes to you, the heartbeat of this great institution, the Newcastle United fans,” it read. “Our relationship with you and your great club is something we all treasure immensely. With just two games remaining and so much to play for, there’s really only one thing left to say: Howay the lads!”
In conclusion, changing sponsorship deals is common in football, and Newcastle United has made a wise decision to part ways with Fun88 and find a new partner to support the club’s ambitions. By signing new deals worth millions of pounds, they hope to become competitive again, both in England and Europe. Fans eagerly await news of the club’s new front-of-shirt sponsor, and an announcement could be made soon.
