Newcastle United are close to finalising a multi-year deal with Saudi events company Sela.

The Magpies are set to earn a significant chunk of change through the sponsorship.

Per The Mail, Newcastle's deal with Sela is worth around £25 million per season.

The Magpies are owned by the Saudi Investment Fund, which likely also has direct ties to Sela.

However, they will not be in violation of any Premier League rules, as Abu Dhabi-owned Manchester City are sponsored by Abu Dhabi-owned Etihad Airways.

The source adds on the deal: “This is part of a long-term strategy to invest overseas. They have more than £1billion in annual revenue, so this is an investment they can afford to make.

“The company wishes to expand their operations in the UK and beyond. They see Newcastle United as a good vehicle to help achieve that and they have vast experience in sport and football, having taken the Italian and Spanish Super Cups to Saudi."