The Saudi Arabian Ministry of Sports Announces Second Phase of Privatizing Saudi Pro League Clubs to Attract Further Investment
On Wednesday, June 3rd, Saudi Arabia’s Ministry of Sports announced its intent to privatize six clubs. The move is aimed at bringing the corporate world into the sports business. The clubs that will be up for grabs in August are Al-Zulfi, Al-Nahda, Al-Okhdood, Al-Ansar, Al-Orouba, and Al-Kholoud.
This is the second phase of the Kingdom’s Vision 2030, which aims to create a competitive sports industry with global appeal. In the first phase, the Saudi Public investment fund acquired Al Nassr, Al Hilal, Al Ittihad, and Al Ahli. Now, the Ministry of Sports hopes to attract corporates to invest in clubs at various levels in the Saudi Football pyramid.
Ultimately, the goal is to improve the administrative and financial governance of Saudi football clubs to ensure the climate is conducive for sports investment and offers a path towards sustainability. The selected six clubs, Al-Zulfi, Al-Nahda, Al-Okhdood, Al-Ansar, Al-Orouba, and Al-Kholoud, were deemed suitable due to their top-notch facilities, strong administrative capabilities, robust financial health, and operational readiness.
Once the next phase is done, eight more clubs will be available for private investment. The eight clubs are Al-Shoulla, Hajar, Al-Najma, Al-Riyadh, Al-Rawda, Jeddah, Al-Taraji, and Al-Sahel. Interested investors can apply to receive information with the bidding process open to local and international entities.
