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The Premier League teams have rejected a proposal to prohibit loans between related parties before the upcoming January transfer window. The motion did not receive the necessary backing of 14 clubs, falling short by just one vote.
The crucial decision made at the Premier League shareholders’ meeting on Tuesday resulted in a 13-7 vote in favor of expediting a ban on loans between affiliated clubs. However, this fell just short of the required two-thirds majority.
This indicates that teams like Newcastle United will have the opportunity to acquire players from other clubs that are primarily owned by Saudi Arabia’s Public Investment fund.
The Magpies have been strongly connected to former Wolves leader Ruben Neves, who recently transferred to Al Hilal in the Saudi Pro League. Al Hilal, along with Al-Nassr, Al-Ahli, and Al-Ittihad, are now all owned by Saudi Arabia’s Public Investment Fund.
In recent weeks, Newcastle has faced a significant injury dilemma and has also lost their summer acquisition, Sandro Tonali, for the remainder of the season due to a gambling suspension.
The ownerships of Manchester City, Chelsea, and Brighton also follow a multi-club model, which has raised concerns about the integrity of sports and the fairness of transactions involving related parties.
On Monday, The Independent also stated that there may be a division among Premier League clubs when it comes to voting on a new financial distribution plan between the Premier League and EFL.
The decision was predicted to cause rifts between the “big six” clubs and the other top teams, who fear they will be impacted more by the newly suggested financial distribution plan compared to the wealthier teams in the league.
The motion was not voted on, even after a three-hour discussion. It will be voted on at a later time.