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October 7th has been a significant date for Newcastle United ever since 2021.

On that day, Newcastle United got new owners. PIF, Amanda Staveley and Jamie Reuben bought the club from Mike Ashley for £305million, and ensured that the Magpies would never be the same again.

It is now three years since the takeover, and Mehrdad Ghodoussi has wished Newcastle a happy anniversary. However, his message comes at a time when the club’s progress has slightly stalled.

Financial rules have stopped the club from kicking on as much as they had hoped, even if Newcastle believe they have exceeded their own expectations since the change of ownership.

Manchester City secure legal win over Premier League

And that is why October 7th holds even more importance in 2024.

Manchester City announced on Monday that they have secured a legal victory over the Premier League with regard to associated party transactions.

This is in relation to the rule that was brought in following the Newcastle takeover in 2021, with the Premier League making it more difficult for clubs to agree sponsorship deals with companies that had ties to their ownership.

It was done to effectively stop Newcastle United’s owners writing blank cheques with new sponsors that were related to PIF. It was an attempt to stop Newcastle progressing and become a force in English football.

But that rule has now been proven to be unlawful, and there will now be an emergency meeting with the Premier League’s 20 members to discuss what is next after the tribunal.

It will be interesting to see how this impacts Newcastle United, who acted as a witness for Manchester City in this case.

From the outside looking in, there is a belief from fans that this tribunal could result in Newcastle agreeing huge new sponsorship deals with companies in Saudi Arabia that would allow them to get over their PSR problems.

Whether or not that is the case remains to be seen, but it has been reported by iNews that Newcastle have been holding talks over possible new sponsorship deals with companies in Saudi Arabia over the past few months.

Newcastle have been held back by the Premier League’s financial rules

It is interesting that Newcastle were not the club to challenge the Premier League over this – it was Manchester City.

But this could have a huge impact on business at St James’ Park, on the back of a summer that saw the Magpies shackled by profit and sustainability.

It started with Newcastle having to sell two bright talents in Elliot Anderson and Yankuba Minteh, and it ended with Eddie Howe’s side not making a single major signing.

Of course, there was money there to do a deal. After all, there were lucrative offers for the likes of Marc Guehi and Anthony Elanga. But it was always a case of one or the other, which is staggering when Newcastle are always branded with the label of being the ‘richest club in the world’.

They have the richest owners in the world, but are not the richest club. However, there is now hope that Newcastle United could become a bit richer following Manchester City’s legal victory over the Premier League.

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