Newcastle United bosses have been discussing the possibility of securing sponsors for both their training ground and kit.
Chronicle Live has reported that one of the reasons for the delay in finalising new deals is Newcastle's determination to accurately reflect the club's commercial value, ensuring they won't be undervalued during negotiations with potential partners.
Both Liverpool and Arsenal enjoy profitable partnerships with AXA and Sobha Realty respectively, with Liverpool earning around £20m annually from the insurance company and Arsenal receiving £15m a year from the luxury real estate development firm.
Despite numerous suggestions that Newcastle should secure a sponsor, the Toon chiefs are not prepared to undersell themselves, with the broader PSR picture still very much part of the behind-the-scenes discussions.
If they can't find a deal comparable to their rivals, Newcastle may even hold off until plans for a new training ground and a move from Benton become more concrete.
It's not uncommon for Premier League clubs to lack a sponsor in commercial terms, as evidenced by Chelsea's shirts being bare for much of last season. They are set to start the new campaign without a sponsor after a brief agreement with DAMAC for £1m per match towards the end of the 2024/25 season.
The Blues were reluctant to commit to a long-term deal that could potentially harm the club's financial stability in the future, and Newcastle are also ready to bide their time for the right deals at the right moment, adopting a similar stance on certain agreements like the Blues.
Newcastle, who already have substantial sponsorship deals with Sela, Noon, Fenwick and newer partners such as Guinness, could leverage their connections with Saudi Arabia and PIF to collaborate with another partner in the Middle East.
Discussions regarding a training kit sponsor are ongoing.
Newcastle's commercial heads, led by Peter Silverstone, are fully aware of the absence of a kit sponsor for the club's training gear.

However, just like the training ground sponsor, it's a matter of patiently waiting for the right deals. Man City did so with Asahi Super Dry 0,0% in recent seasons and secured £20m a year.
It is understood that Newcastle have already engaged in talks with three potential training kit sponsors and those discussions are still in progress.
The agreement with Guinness is believed to be a profitable deal spanning three years, with the stout beer giants from Dublin choosing one club in the south and one club in the north to partner with, hence the agreements with Arsenal and Newcastle.
Regardless of currently being without training ground or training wear sponsorship deals, the Magpies will receive a financial boost this season after qualifying for the Champions League.
With a total prize pot for the competition of £2.06bn, each competing club is guaranteed to earn £15.7m regardless of how far they progress.
Each league stage win will earn Newcastle an extra £1.8m while a draw delivers £590,000. Teams who make it to the Last 16 can pocket another £9.4m, with £10.7m on offer for the quarterfinalist and £12.9m for reaching the semi-finals.
The competition runner-up with receive £15.9m while winning the whole thing comes with a £21.5m prize pot.
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