Riyadh – Asdaf News:
Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud launched the Sports Clubs Investment and Privatization Project, Monday.
According to the SPA, the initiative encourages and enables the private sector to contribute to the expansion of the sports industry and is in line with the ambitious goals of Saudi sports under Vision 2030.
The idea calls for the authorisation of businesses and government agencies investing in sports teams at rates that are in line with the worth of each club. Additionally, it calls for the privatization of sports clubs beginning in the latter quarter of 2023.
The initiative intends to promote sports investment possibilities, financial sustainability in sports clubs, and improve the infrastructure and competitiveness of clubs.
