Premier League WILL allow Newcastle to loan Saudi stars as plot to block 'related-party loans' fails by ONE VOTE after hours of talks at top hotel, with Everton deduction and Man City charges hot topics

Premier League clubs have voted AGAINST a temporary ban on incoming loan deals between clubs with the same owners, meaning the likes of Newcastle will be free to trade with PIF-backed teams from Saudi Arabia.

In a shock twist, we understand the fast-tracked proposal was not supported by the 14 top-flight members needed to implement the change, missing out by just ONE vote after a 13-7 ballot was returned.

Mail Sport revealed earlier this month that a vote would take place on November 21 at the next Premier League shareholders’ meeting. It was thought then that the motion would be passed.

But while a majority did vote in favour, it was not enough to block associated-party loan deals in January.

The vote came after Newcastle were linked with potentially trying to loan players from the Saudi Pro League (SPL) in January to bolster their squad, with Eddie Howe admitting he is an admirer of Al-Hilal's Ruben Neves.

However, Newcastle and Al-Hilal are both owned by Saudi Arabia's Public Investment Fund (PIF) - as are fellow SPL clubs Al-Nassr, Al-Ahli and Al-Ittihad - and some teams were concerned about the possibility of temporary transfers being done between 'associated clubs'. 

Shareholders subsequently voted on the measure, with Newcastle now free to loan Saudi stars in the winter transfer window.

This will be a welcome boost to Eddie Howe's squad, with the Magpies' injury list running into double figures for their 2-0 defeat to Bournemouth ahead of the international break.

It does appear Newcastle's chances of landing Neves already look to have diminished though, with the Portuguese midfielder expected to stay at Al-Hilal beyond January, but they won't be completely ruled out of contention to secure his signature given the failure to vote through the ban.

The vote came at a meeting between top flight chiefs at a five-star hotel in London on Tuesday, with a number of topics up for discussion amid hours of talks.

For example, the meeting came just four days after Everton were left stunned at being hit with a 10-point deduction for breaching financial rules. 

Sean Dyche's men have dropped into the bottom three as a result, but the Toffees have vowed to appeal the verdict.

Things could get worse for them, though, as Burnley, Leicester and Leeds - who have all been relegated from the Premier League in the last two seasons - are seeking £300m in compensation due to believing Everton's breaches helped keep them in the top flight.

If they are successful with their claim, this could plunge Everton into administration and see them deducted a further nine points. 

But Everton feel the punishment handed down to them last week was 'unjust' and in a statement released on Friday, they declared they would 'monitor with great interest the decisions made in any other cases concerning the Premier League's profit and sustainability rules'.

This appeared to allude to how Manchester City currently have 115 charges hanging over them from back in February for allegedly breaking financial rules.

Their case remains ongoing, but shareholders from rival clubs were expected to question today if progress was being made in coming to a decision on whether City are guilty of any wrongdoing and what the potential punishment could be.

West Ham vice-chairman Karren Brady and Burnley chairman Alan Pace were among the chiefs who were both seen entering The Churchill Hyatt Regency Hotel on Tuesday morning in west London, before the likes of Brady, Crystal Palace co-owner Steve Parish, Arsenal executive vice-chair Tim Lewis and PGMOL chief refereeing officer Howard Webb were pictured leaving.

A new deal for funding the Football League was also expected to be ratified.

Reports on Monday claimed clubs will look to put pressure on the 'Big Six' to contribute more to a £130m rescue fund for the EFL.