Riyadh: The Crown Prince of Saudi Arabia, Mohammed bin Salman, is trying to promote sports in the kingdom. In this regard, he has decided to take important steps.
Saudi state news agency SPA According to the report Mohammed bin Salman has launched a plan to privatize and invest in Saudi sports clubs, a move aimed at fulfilling the goals of the Saudi Vision 2030 in the field of sports.
The report states that the privatization of sports clubs aims to enable the private sector to play its role in the development of the sports sector, enabling athletes, sports clubs and national teams at all levels to play a desirable and unique role.
Under the mandate, incentives will be provided to the private sector so that they can properly play their role in establishing an efficient sports sector.
Under the first phase of the draft, investment in sports clubs will be approved by large companies and development institutions. Ownership rights of sports clubs will be transferred to companies and development institutions.
In the second phase, the privatization of several sports clubs will be started from the last quarter of 2023.
The main objective of privatization of sports clubs is to promote various sports in Saudi Arabia in a standard manner by 2030. Players should be developed at regional and international level. Football should be developed on modern lines and the Saudi national team should be counted among the ten best teams in the world.
In addition, the income of the Saudi Professional League should increase from 450 million Rials to exceed 1.8 billion Rials annually and its market value should increase from 3 billion to more than 8 billion Rials.