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Saudi Arabia opens 5 sports clubs for investment
The Ministry of Sports and the National Center for Privatization in the Kingdom have announced the offering of five sports clubs for investment and privatization: Riyadh, Abha, Al-Fateh, Al-Tai, and Al-Shula. The official procedures for the clubs have been completed, and applications are open for investors until July 5th, with the aim of enhancing club efficiency and developing the sports sector in line with Saudi Vision 2030. The privatization process is expected to take between 8 to 10 months if there are interested applicants. More than 80 expressions of interest have been received from local and international investors, and negotiations are currently underway with Nejmah and Al-Akhduud clubs regarding ownership transfer.
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