My employer is considering contracting part of a research project to a university and I'm currently the project leader. I found that I might use this opportunity to pursue a Ph.D. degree and talked to the management of my company. They agreed for me to do a Ph.D. using this funding (I will still have to commit other affairs in my current company but that will only be part-time). We also found a professor willing to supervise me provided that the funding will be available from my employer
So my question is, would the admission committee consider this approach problematic? As I'm the representative of the industry funding provider of my Ph.D. research, if I'm admitted to the program. Also, just to be selfish, how do I gently let the department know that I will not (at least within my influence for this particular project) fund other student for this project?