Justice minister, DGA chief discuss partnership to boost digital judicial services    Netanyahu does not rule out further strikes on Hamas leaders    US farmers are being squeezed – and it's testing their deep loyalty to Trump    Romania condemns 'irresponsible' Moscow after Russian drone breaches its airspace    Kirk's assassination is forcing US politicians to make difficult choices about their safety    India players refused handshakes, says Pakistan coach    Final stage of Spanish Vuelta cycling race abandoned after disruption by pro-Palestine protesters    Mané fires Al Nassr past Al Kholood to keep perfect start as Ronaldo honored    Lacazette brace earns NEOM SC first Saudi Pro League win    Adolescence star Owen Cooper makes Emmys history at 15    Saudi liquidity grows 8.4%, reaching SR3.1 trillion in July 2025    Over 434,000 people acquire first aid skills during nationwide health campaign    Saudi Arabia's legislative advancement highlighted at International Conference on Judicial Training    Sudden swerving among 3 major causes of accidents in Riyadh in 2024    Princess Haifa emphasizes pivotal Saudi role in shaping future of tourism    Sahm Capital names Saudi Olympian Fayik Abdi as brand ambassador    SR9000 fine for copyright infringement using AI    King Charles and Prince Harry finally reunite after 19 months apart    Anastacia: Arnold Schwarzenegger made me sing Whatta Man 12 times    Thousands pay their last respects to Giorgio Armani, private funeral on Monday    The key to happiness    Sholay: Bollywood epic roars back to big screen after 50 years with new ending    Ministry launches online booking for slaughterhouses on eve of Eid Al-Adha    Shah Rukh Khan makes Met Gala debut in Sabyasachi    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Saudi Crown Prince unveils investment and privatization plan for sports clubs Project to make SPL among world's 10 best leagues with SR1.8bn annual revenue
The Saudi Gazette Published in The Saudi Gazette on 05 - 06 - 2023

RIYADH — Saudi Crown Prince and Prime Minister Mohammed bin Salman unveiled on Monday an ambitious investment and privatization plan for sports clubs, after completing the executive procedures for its first phase.
Major companies and development agencies will be allowed to invest in sports clubs in return for a transfer of club ownership to them. Also, a number of sports clubs will be offered for privatization starting in the last quarter of 2023. These will be implemented under two tracks in the first phase of the project, the Saudi Press Agency reported.
The project meant to realize the ambitious goal of bringing the Saudi Professional League to the list of the 10 best professional leagues in the world, and increase the league's revenues from SR450 million to more than SR1.8 billion annually, in addition to raising its market value from SR3 billion to over SR8 billion.
The project is aimed at achieving the goals of Saudi Vision 2030 to build an effective sports sector by stimulating the private stakeholders and enabling them to contribute to the development of the sector. The overall objective of this is to achieve the desired excellence of the Saudi national teams, sports clubs and sports practitioners at all levels.
This project is based on three strategic objectives, represented in creating quality opportunities and an attractive environment for investment in the sports sector to achieve a sustainable sports economy, as well as raising the level of professionalism and administrative and financial governance in sports clubs.
The objectives also include raising the level of clubs and developing their infrastructure to provide the best services to sports fans, which is reflected in a positive way in further improving the experience of the public, the Saudi Press Agency reported.
The transfer and privatization of clubs in general aim to achieve qualitative leaps in various sports sectors in the Kingdom by 2030, to create a distinguished generation in sports at the regional and global levels. This is in addition to developing the football game and its competitions in particular.

Clic here to read the story from its source.