City were referred to an independent commission by the league in February last year.

The champions were referred to an independent commission in February last year over alleged breaches of the Premier League’s financial rules.

The new deal begins in the 2023-2024 season

Court documents published in February described Newcastle chairman Yasir Al Rumayyan as a sitting minister of the Saudi government.

The pair were long-term rivals on the touchline during their managerial careers

Richard Masters, the chief executive of the Premier League, said he was “aware” of court documents published in the United States last month.

The Blues spent over £300million on new players during the January transfer window.