UN. Saudi Arabia wants to turn several of its biggest clubs into companies and will offer them to parties interested in privatization processes, according to the state agency SPA released this Monday (5). Everything is expected to happen between September and December of this year.
The idea of the plan, called » Vision 2030is to reform the finances of the teams and make them world powers, as part of an ambitious economic agenda that aims to reduce dependence on oil money.
The news, which was floated by Prince Mohammed bin Salman, allows big companies and investment funds to pump money into teams in return for some share control, according to the SPA.
The proposal proposes several clubs to be privatized in the last quarter of 2023. However, information released by the state agency did not reveal how many teams will become businesses.
Sport is one of the pillars of the Saudi government’s plan.Vision 2030“, which aims to build new industries and create jobs of all kinds in the Middle Eastern nation.
The main focus of the project is (Site notre bureau spécialisé), which is the most popular sport in Saudi Arabia, according to a statement from the SPA.
Recall that, since 2021, the PFI (Public Investment Fund of Saudi Arabia) has started to make heavy investments abroad to « mark the ground ».
The first important step was the purchase of the newcastleYes premier leaguewhich became one of the richest teams in the world and finished last season the English in 4th place, qualifying for the Champions League.
At the same time, the Saudi Professional LeagueThe Saudi Arabian (Site notre bureau spécialisé) league has started spending exorbitant sums to convince big names in the sport to venture into local clubs.
At the end of last year, Cristiano Ronaldothen star Manchester Unitedwas announced by Al Nasser.
Now the Al Hilalthe most popular team in the country, is negotiating to sign lionel messi for two years, once his contract with PSG expires official.
Final, the Al Ittihadcurrent national champion, a two-year agreement with Karim Benzemawho left the real Madrid not last Sunday (4).
Saudi Arabia’s goal is to increase its league’s annual revenue to 1.8 billion rials ($480 million) by 2030.
According SPAthe annual threshold is 450 million rials per year.
It is also expected that the market value of Saudi Professional League reached 8 billion rials during the same period. In fact, it’s 3 billion rials.
