Saudi Gazette report

RIYADH — The Saudi Ministry of Sports has announced the availability of sports clubs for investment by interested parties worldwide.

In coordination with the National Center for Privatization, the Ministry has initiated on Sunday the second phase of the investment and privatization project for sports clubs.

The project was launched by Crown Prince and Prime Minister Mohammed Bin Salman, as part of the Saudi Vision 2030 objectives.

The initiative aims to stimulate the private sector's participation in building and developing the sports sector, benefiting national teams and sports clubs in particular.

The second phase of the project involves registering the interest of local and global entities wishing to invest in sports clubs.

This registration marks the first step in the bidding process. Interested parties can visit the Ministry's website to submit the necessary information.

It's important to note that the sports clubs investment and privatization project, announced last June, focuses on three strategic and essential objectives.

These include creating an attractive environment for investment in the sports sector towards a sustainable sports economy, enhancing organization, and improving professionalism and governance in the administrative and financial management of sports clubs.

Additionally, the project aims to develop infrastructure, positively impacting the sports fan experience.