The Premier League’s effort to prohibit loan transactions between affiliated clubs in January was defeated.
The measure was intended to prevent a club like Newcastle from loaning a player from another club owned by Saudi Arabia’s Public Investment Fund – they have been connected with a temporary swap for Saudi club Al-Hilal’s Ruben Neves.
The Premier League needs 14 of its 20 teams to vote in favor of the ban at its shareholders meeting on Tuesday afternoon in London.
However, according to the PA news agency, the vote ended 13-7 in favor of a ban, falling short of the threshold required to pass the motion.
Injury-hit Newcastle may now bring in former Wolves midfielder Neves on loan to replace Sandro Tonali, who was banned for ten months for violating gambling regulations.
Similarly, Manchester City would be able to loan players from other City Football Group members.
The clubs were unable to ratify the parameters of the so-called ‘New Deal,’ a £900 million settlement between the Premier League and English Football League teams.
The Premier League had intended to confirm the package at its meeting on Tuesday, but no vote is believed to have taken place.
Despite a three-hour debate, there is still a stumbling block regarding new cost-cutting requirements for Premier League and EFL clubs.
The Premier League wants the matter resolved before the new independent regulator in English football is put in place.