Saudi clubs to privatize with National Center
Ibrahim Al-Muayqil, the Assistant Undersecretary for Investment and Privatization at the Saudi Ministry of Sports, announced the launch of five sports clubs for privatization in the Kingdom: Al-Riyadh, Al-Fateh, Abha, Al-Tai, and Al-Shu'la. This initiative is in collaboration with the National Center for Privatization and is expected to take between 8 to 10 months. He also mentioned serious interest in privatizing the Al-Shabab club, which possesses investment advantages such as a large fan base and a strategic location, although current offers have not yet reached the final stage. Additionally, he pointed out that the revenue from commercial clubs in Saudi Arabia has increased by more than 350%, and the percentage of people practicing sports in the country has risen to 59%.
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