By Adam Williams, Finance & Governance Correspondent

10th May, 2023 | 4:10pm

Sources: £25m Newcastle United deal given green light - official announcement in summer

The new Newcastle United front-of-shirt deal has already been given the green light by the Premier League’s Fair Market Value committee, Football Insider has learned.

The deal, which is with an as-yet unidentified company from the Middle East, is worth a reported £25million per year.

At almost five times the value of their current agreement with China-based bookmaker Fun88, the new deal represents an unprecedented upswing for the value of a Premier League club’s front-of-shirt rights.

The Fun88 arrangement runs until the end of 2022-23, with both parties having agreed to terminate the deal early.

Newcastle are then expected to announce the £25m-a-year alliance with the new front-of-shirt partner in the summer.

It is understood that the deal has passed the Premier League’s Fair Market Value assessment, which was introduced in the wake of the Newcastle takeover in October 2021.

The test’s purpose is to determine whether or not a commercial deal is proportionate to others across the industry, preventing clubs from signing artificially inflated deals in order to circumvent financial fair play.

Newcastle have signed a number of sponsorship deals with businesses within their Saudi owners’ portfolio in recent months, but it is believed that the new front-of-shirt deal is with a third-party firm.

Raising commercial revenue has been their top priority away from the pitch and is in fact the central thrust of the Newcastle-focused Amazon documentary currently in production.

Significantly, Eddie Howe’s side are on the brink of securing Champions League football for the first time in over 20 years, which would greatly increase their appeal to sponsors.

Football Insider analysis shows that Newcastle’s turnover could hit £265m next season, with prize money, commercial income and extra matchday revenue taken into account.

In other news, Newcastle United plotting to sign Inter Milan star to replace recent signing.