Premier League clubs have reportedly voted against a temporary ban on loan moves for players between associated clubs in the January transfer window, allowing Saudi-backed Newcastle United to negotiate deals with teams in the Middle East.
The Magpies share the same majority shareholder – Saudi Arabia's Public Investment Fund (PIF) – as Saudi Pro League quartet Al-Hilal, Al-Nassr, Al Ittihad and Al-Ahli and have been tipped to delve into the Middle Eastern market during the winter window.
Al-Hilal midfielder Ruben Neves has regularly been linked with a move to St James' Park just six months after leaving Wolverhampton Wanderers for a reported £47m in the summer.
Newcastle have also been credited with an interest in Neves's Al-Hilal teammate Sergej Milinkovic-Savic, Al-Ahli's Gabri Veiga and Al Ittihad's N'Golo Kante as manager Eddie Howe looks to recruit a replacement for midfielder Sandro Tonali, who has been banned for 10 months for breaching betting rules.
Some Premier League clubs are believed to have been concerned by the prospect of Newcastle taking advantage of their connections with the PIF to negotiate transfers with players from the Saudi Pro League, while top-flight chiefs were said to be in favour of a temporary change to the rules relating to 'associated party transactions'.
Representatives of all 20 Premier League clubs attended a shareholders meeting at The Churchill Hotel in London on Tuesday to cast their vote on the matter, and a two-third majority (14 clubs) was required for the temporary ban to be approved.
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Newcastle co-owner Amanda Staveley, who played a crucial role in the PIF's purchase of the Magpies in 2021, West Ham United vice-chair Karren Brady and Crystal Palace co-owner and chairman Steve Parish were among those who attended.
However, according to multiple reports, attempts to block associated-party loan deals narrowly failed to meet the required threshold by just one vote, even though the majority of teams (13) were in favour of the proposal.
Such a decision means that Newcastle are free to negotiate loan deals with PIF-owned clubs in the Saudi Pro League in January, although the Magpies' hopes of signing Neves appear to have reduced as a recent report claims that the Portuguese is now set to stay at Al-Hilal.
The Athletic reports that the Premier League classify a related party as one that has "material influence over the club or (being) an entity in the same group of companies as the club", with their assessment based on the "substance of the relationship and not merely the legal form".
The relationship between Newcastle and Al-Hilal is a prime example, while other Premier League clubs including Manchester City and Chelsea also operate as part of multi-club models and therefore fall under this bracket as well.
While Man City are one of 13 clubs across the globe in partnership with City Football Group, Chelsea's owners – Todd Boehly and Clearlake Capital – completed the purchase of Ligue 1 outfit Strasbourg earlier this year.
