Saudi Arabia is on its way to start administration of the most important stadiums for the private sector

Saudi Arabia is on his way to start the management of the soccer fields to the private sector, and targets its conversion to a commercial project that exceeds only the presentation of football matches, according to Bassem Ibrahim, head of the Saudi Ministery of Investment. In an interview with “Al -Sharq”, on the sidelines of the Middle East Sports Forum in London, he noted that the kingdom’s strategy is related to the privatization of football clubs, which started in the first phase with eight clubs and 14 clubs will be followed in the second phase, will be followed by other phases until all Saudi clubs are privatized. The Saudi Kroon Prince Mohammed Bin Salman launched the investment project and the privatization of sports clubs in June 2023, which in the first phase the transfer of “Al -Hilal”, “Al -Nasr”, “Al -Titihad” and “Al -Aahly” clubs to companies, with the transfer of 75% of its ownership of the public investment fund. Owners of “Al -qadisiyyh” clubs included “Aramco”, “Al -ula” to the Royal Commission for the Al -Aula -Governor, and “Al -Diriyah” to the Diriyah Development Authority, and “Falcons” for “Neom”, and the club’s name has already been changed to “Neom”. After completing the implementation of the investment project and the privatization of sports clubs, the Saudi Ministry of Sport in August 2024 revealed that 6 clubs intended to start offering, which is ‘Al -Zulfi’, ‘Al -nahda’, ‘Al -Aakhdoud’, ‘Al -Sansear’, ‘Arabism’ and expected. Clubs. Several sports investments, Ibrahim, mention that the presence of the forum, held in the British capital, is to activate the investment plans worked over the past four years and the implementation of the transactions completed, and indicated that major sports companies, especially from the UK, have a desire to invest in the Saudi market and open heads. The sports investment sector, on the sidelines of the forum, signed an agreement with the Emirati commercial clothing brand “Treasure Wolf” to sell its products and open stores in Saudi Arabia, according to Ibrahim, and added that this agreement was previously announced during the past two weeks to announce a “cost” and Umsi contract. Saudi Arabia announced the construction of 11 new stadiums in preparation for the World Cup 2034, hosted by the country, which brought the total stadiums allocated to the tournament, spread to 15 stadiums, spreading over cities Riyadh, Jeddah, Al -khobar, Abha and Yum, with a total capacity of more than 775 thousand seats. Ibrahim said the sports investment sector is also aimed at attracting investors in qualitative sports sectors, including sports medicine, manufacturing and sports-related techniques. He pointed out that work is also underway to attract sports academies, sports halls and businesses that specialize in the equipment of these halls, in addition to encouraging sports tourism. Ibrahim said in a previous interview with Al -Sharq early this year that the value of investments in the sports sector in Saudi Arabia has approached one billion dollars since the beginning of the contract, adding that the year 2024 witnessed about 40 investment transactions in the field of sports, 25% of which is a foreign investment. Saudi Arabia and the Public Investment Fund have spent large amounts on sports over the past few years as part of the country’s plan to diversify the economy, encourage tourism and improve the quality of life. Bloomberg previously published that the Kingdom plans to attract more external investors to improve its competitor among adults in soccer fields.