Saudi Crown Prince and Prime Minister Prince Mohammed bin Salman bin Abdulaziz Al Saud launched the investment and privatization project for sports clubs. After the completion of the executive procedures for the first phase, to achieve the objectives of Saudi Vision 2030 in the sports sector, aimed at building an effective sports sector, by stimulating and empowering the private sector to contribute to the development of the sports sector. In order to achieve the desired excellence for national teams, sports clubs, and practitioners at all levels.
The project currently includes two main tracks: the first is the approval of the investment of major companies and development bodies in sports clubs, in exchange for transferring the ownership of clubs to them, and the second is the offering of a number of sports clubs for privatization starting from the last quarter of 2023.
Source (Al-Arabiya.net Website, Edited)
