This investment aims to enhance the development of local sports clubs and elevate the profile of the Kingdom’s sports sector. The Ministry of Sport has declared a SAR 1.7 billion investment in three sports projects for the 2024-2025 season, designed to promote club development and improve the Kingdom’s sports profile. This funding is a component […]
This investment aims to enhance the development of local sports clubs and elevate the profile of the Kingdom’s sports sector.
The Ministry of Sport has declared a SAR 1.7 billion investment in three sports projects for the 2024-2025 season, designed to promote club development and improve the Kingdom’s sports profile. This funding is a component of the Clubs Support Strategy, which emphasizes governance, sports development, fan involvement, and digital innovation.
The ministry disclosed that SAR 1.04 billion of the funding will be directed towards supporting clubs in the Saudi Pro League, along with those in the first and second divisions. Teams in the Pro League are set to receive SAR 47 million annually for public clubs and SAR 45 million for private clubs. First division clubs will obtain SAR 6 million each year, while second division public clubs will be allocated SAR 2.787 million.
Moreover, SAR 128 million is designated for the initiative to boost fan attendance, while SAR 503 million is set aside for various sports initiatives. The process of sports privatization, as part of Vision 2030 reforms, has also garnered considerable interest from investors, with 25 companies exploring opportunities in the Kingdom’s privatized sports clubs.
Since the initiation of Vision 2030, the Kingdom has experienced substantial growth in sports tourism, hosting 80 athletic events in the last four years and attracting 2.5 million visitors. Significant events like the Formula One race in Jeddah have made considerable contributions to the economy, generating thousands of jobs and appealing to international visitors.
