Saudi Arabia is committed to becoming a top-10 league by 2030 with an annual revenue rise from $120 million to more than $480 million, and an increased market value from $800 million to at least $2.13 billion.
As part of this evolution, the Kingdom is intending to privatize a quartet of state-owned sports clubs from the fourth quarter of 2023, with the Public Investment Fund (PIF) set to own 75% of al-Ittihad, Al-Ahli, Al-Nassr, and Al-Hilal.
“The transfer of the four clubs will unleash various commercial opportunities, including investment, partnership, and sponsorships across numerous sports,” the PIF said.
The Saudi Pro League is grabbing the attention of the world with its string of high-profile signings
The Saudi Pro League is grabbing the attention of the world with its string of high-profile signings, such as Brazilian football icon Neymar Junior, who has left Paris Saint-Germain (PSG) to join Al Hilal on a contract worth $300 million until 2025. And of course, Christiano Ronaldo departed Manchester United and signed a $200 million per year contract with Al Nassr, demonstrating to the world that Saudi football is seeking a worldwide audience and that the Kingdom views sports as a key pillar of economic diversification.
The top 20 players acquired since January have cost a total of more than $700 million in transfer and signing fees, as well as a commitment to spend $1.1 billion in salaries per year.