The Saudi Ministry of Sports has opened doors for global investors to engage in the kingdom’s sports clubs, signaling a significant move towards the enhancement of the sector. In collaboration with the National Center for Privatization, the Ministry initiated the second phase of its investment and privatization strategy for sports clubs on Sunday.
This initiative, championed by Crown Prince and Prime Minister Mohammed Bin Salman, aligns with the transformative Saudi Vision 2030 goals. It is designed to invigorate the private sector’s role in fostering and developing the sports industry, with a focus on benefiting national teams and local sports clubs.
As part of the second phase, the Ministry is inviting expressions of interest from both domestic and international entities eager to invest in the sports realm. This call to action serves as the preliminary step in the comprehensive bidding procedure. Prospective investors are encouraged to visit the Ministry’s official website to provide the necessary information for participation.
Introduced last June, the sports clubs investment and privatization project is driven by three strategic imperatives. These are to establish a conducive environment for investments in the sports domain, aiming for a robust and enduring sports economy, to augment the organization, professionalism, and governance in the administrative and financial management of sports clubs, and to upgrade infrastructure, thereby enhancing the overall experience for sports enthusiasts.