The Premier League clubs' decision to vote against a temporary ban on incoming loan deals between clubs with the same owners could have a major impact on the January transfer window.
The motion fell short of the 14 top-flight members support needed to implement the change, missing out after a 12-8 ballot.
It means that Newcastle could sign players from clubs also owned by Saudi Arabia's Public Investment Fund (PIF), which has an 80 percent stake in the Magpies.
Newcastle have been linked with a move for Ruben Neves, who joined Saudi Pro League side Al-Hilal in the summer, as Eddie Howe looks to address his injury crisis.