On Sunday, the Saudi Ministry of Sport announced a second new route towards the allocation of Saudi sports clubs, after success in the allocation of the four big clubs: Al-Hilal, Al-Nasr, Etihad and Al-Ahly, in June.
The Ministry, in coordination with the National Center for Allocation, announced on Sunday the launch of the second track of the project to invest and allocate to sports clubs, launched by Prince Mohammed bin Salman, Crown Prince to achieve the goals of “Saudi Vision 2030”, and to motivate the private sector to participate in the construction and development of the sports sector, in order to achieve the desired benefit of national teams and sports clubs in particular.
The second track of the project involves recording the interest of those who want to invest locally and globally in sports clubs as a first step to initiate the rollout process. Those interested and interested in investing in sports clubs can visit the Ministry’s website to register the necessary data.
The Sports Clubs Investment and Allocation Project, announced in June Last June, it is based on the 3 of strategic and fundamental objectives, namely to provide an attractive environment for investment in the sports sector, towards achieving a sustainable sports economy, as well as organizing, raising the level of professionalism and administrative and financial governance in sports clubs, as well as developing infrastructure, which has a positive impact on improving the experience of sports audiences.
Last month, the Saudi Ministry of Finance disclosed with the announcement of the Kingdom’s public budget that it had completed the transfer of ownership of 14 sports clubs to the private sector; What it contributes to enhancing in terms of artistic and commercial, giving freedom to work (as business enterprises) in order to develop sports work for the better.
Prince Mohammed bin Salman bin Abdulaziz, Prime Minister, was launched on June 5 (June), the project to invest and allocate to sports clubs, after the completion of the implementation procedures for the first phase, in order to achieve the objectives of “Saudi Vision 2030” in the sports sector, aimed at building an effective sports sector, by stimulating the private sector and enabling it to contribute to the development of the sports sector, in order to achieve the desired excellence of national teams, sports clubs and practitioners at all levels.
According to the official statement published on the website of the Saudi Ministry of Finance on the budget for 2024, the allocation programme in 2023 contributed to increasing the private sector’s participation in GDP. To emphasize the ongoing journey of economic diversification by supporting promising sectors The Kingdom of Saudi Arabia is working to raise tourism targets to 150 million visitors internally and abroad by 2030, as well as to build an effective sports sector through the “Project for Investment and Allocation of Sports Clubs” to meet the goals of “Vision 2030” in the sector; These sectors are experiencing accelerated growth with diverse opportunities.
For his part, Mohammed Al-Jadaan, the Saudi Minister of Finance, confirmed that the four big clubs that were transferred to the “Public Investment Fund” would be earmarked for income on the Fund, not the budget.
Overall, the transfer and allocation of clubs aims to achieve qualitative leaps in the Kingdom’s various sports by 2030, to make a sporting outstanding generation at the regional and global levels. In addition to developing the game of football and its competitions in particular, to reach the list of “Top 10 leagues in the world”, Saudi Professional League’s revenues increased from SAR 450 million to over SAR 1.8 billion annually in addition to raising the Saudi Professional League’s market value from 3 billion to more than 8 billion riyals
