By Sean Fisher

25th May, 2023 | 4:00pm

Sources: Two offers revealed with £20m-plus Newcastle United deal all but done

Saudi-based company Sela lead a two-horse race to sign a front-of-shirt sponsorship deal with Newcastle United, sources have told Football Insider.

The Magpies have also held talks with Dubai-based real estate company Emaar over a possible partnership agreement.

Emaar are eager to expand into sports sponsorship and made contact with Newcastle, but a deal with PIF-backed Sela is preferred by the Premier League club.

It is understood that Newcastle are now in advanced talks with Sela over a £25million-per-season deal to replace Chinese-based bookmakers Fun88.

Newcastle are on the brink of tripling the value of their shirt sponsorship, with their previous Fun88 deal earning the club around £8million per season.

Should a deal with Sela be finalised, the Saudi events company would become the club’s largest commercial partner.

But any agreed deal will first have to be passed through the Premier League’s ‘fair market value’ assessment which was introduced in the wake of Newcastle’s takeover in October 2021.

Sela has strong connections with Newcastle’s Saudi owners and is listed as one of “PIF’s MENA investments”.

The Premier League will be the final arbiter to decide whether a £25million deal is of ‘fair value’ compared to Newcastle’s competitors.

Manchester City currently lead the Premier League in terms of shirt sponsorship value, with their Etihad Airways deal worth as much as £67.5million per season as per The Athletic.

Newcastle’s recent qualification for the Champions League will be taken into account and will considerably strengthen their chances of justifying the value of the deal.

In other news, Newcastle United land £35m windfall – further £50m on the way