Saudi Arabia plans for wave of private investment in local pro football
A spending spree is on in the Gulf to develop leagues and facilities
Cristiano Ronaldo is marked by Raed's Saudi midfielder #14 Mansor al-Beshe during the Saudi Pro League football match between Al-Nassr and Al-Raed in Riyadh's Al-Awal Park Stadium on March 7. (Photo: Getty Images)
Nassr's Portuguese forward #07 Cristiano Ronaldo is marked by Raed's Saudi midfielder #14 Mansor al-Beshe during the Saudi Pro League football match between Al-Nassr and Al-Raed in Riyadh's Al-Awal Park Stadium on March 7, 2024. (Photo by Fayez NURELDINE / AFP) (Photo by FAYEZ NURELDINE/AFP via Getty Images)
Saudi Arabia is looking to lure private capital to its local pro football clubs amid a push in the region to nurture a sports and leisure sector.
“We expect to have another wave of privatization coming up soon,” Vice Minister of Sport Bader Alkadi said at Bloomberg Power Players Jeddah on Thursday. “That gives us opportunity to make the investment in sport a sustainable investment.”
Saudi Arabia and, to a somewhat lesser extent, the UAE, have been on a spending spree to develop leagues and facilities to support athletics on the professional and recreational levels.
On Friday, Abu Dhabi Entertainment Company inked a deal with Sanad Strata and Solutions+ to update sports facilities across the capital.
Meanwhile, Dubai opened two new bike paths over the weekend as it plans over 600 miles of track.