Clubs vote against proposed law in the Premier League
The Premier League clubs took a decision which will be an advantage to Newcastle United, Chelsea and Manchester City, which will allow loans for players that share the same owner.
The decision needed 14 of the 20 clubs to vote in favour during a meeting between Premier League shareholders that was held on Tuesday, November 21, 2023, according to reports, only 13 clubs voted for the measures. It needed two-thirds (14) of the total clubs in the league to vote against the proposal before it could stand.
This means that Newcastle will be allowed to sign players on loan from the PIF-owned clubs in the Saudi Pro League in January 2024. The Magpies can get Neves' from Al Hilal when the transfer window opens in the winter.
The measure was not targeted at Newcastle’s acquisition of Neves or any other players at PIF-owned clubs in the Saudi Pro League but is aimed at the recent ongoing conversation about related-party transactions, which includes matters like front-of-shirt sponsorship.
There are currently no restrictions on Premier League players being sold in one transfer window and the club they join subsequently agrees to a loan or permanent move back to the division with a team operating under the same ownership when the market reopens, as long as it is considered fair market value.