RIYADH — The Saudi Ministry of Sport, in collaboration with the National Center for Privatization (NCP) & PPP, announced on Sunday the launch of the tendering of the privatization of six sports clubs across various divisions for local and international investors. The clubs in this phase are Alzulfi, Alnahda, Alokhdood, Alansar, Alorouba, and Alkholoud. This announcement follows the ministry's previous one on Wednesday that revealed the commencement of the second phase of Sports Clubs Investment and Privatization Project Second Track, based on the approval of the Council of Ministers to privatize 14 sports clubs in Saudi Arabia. This move is part of the ongoing implementation of the sports clubs' investment and privatization project launched by the Crown Prince, in line with the goals of Saudi Vision 2030. It also aims to provide opportunities for the private sector to participate in building and developing the sports sector, thereby benefiting national teams, clubs, fans, and all sports practitioners. The privatization process of the six clubs will go through several stages until the completion of its commercial closure and transfer of ownership. It begins with the submission of expression of interest (EOI) and request for qualification (RFQ) by investors through the "Investors Portal" on the NCP website where applications will be accepted up to 4:00 pm on 19 September, 2024. This will be followed by evaluating and qualifying of the requests, and then the launch of the stage for submitting financial and technical offers by the approved qualified and reviewed entities. Following this, the formal negotiation process will begin, followed by the selection of the best offers and the announcement of the investment entities that have acquired ownership of aforementioned clubs. This will mark the completion of the official procedures specified in this phase. This announcement offers unique opportunities for entities interested in investing in the sports sector, in line with the qualitative significant shift that the sector is experiencing with the vast support of Saudi Arabia's leadership, and in line with the objective of Vision 2030. This will enhance partnerships and cooperation between the public and private sectors, towards advancing the Kingdom's sports sector and contributing to building a strong and sustainable national economy.
