Soccer-Premier League sponsorship rule shows clubs are worried - Saudi minister

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(Reuters) - Premier League clubs passing a temporary rule to stop teams from agreeing sponsorship deals with companies linked to their owners shows Newcastle United's rivals are worried, Saudi Arabia's Finance Minister Mohammed Al-Jadaan said on Thursday.

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Newcastle were taken over earlier this month for 305 million pounds by a consortium 80%-led by Saudi Arabia's PIF sovereign wealth fund which is chaired by the Saudi Crown Prince Mohammed bin Salman.

The Premier League approved the Newcastle takeover after receiving"legally binding" assurances there was clear separation between PIF and the kingdom of Saudi Arabia. "But I would say if people are worried about competition amongst clubs, and particularly now that we have invested in one of them, possibly it's a good sign that there is potentially a serious competitor coming their way."Sponsorship, particularly, we do sponsorship not only with clubs that we own, we do sponsorship with different clubs... There will be plenty of opportunities for sponsors," he added.

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