1 Day
Source:
هاي كورة
Saudi sports clubs regulations key decisions
The new sports club regulations in Saudi Arabia have mandated that clubs open separate bank accounts for each activity, such as football and investments, to enhance financial oversight and make it easier to monitor revenues and expenses. They also set membership fees between 500 and 1,000 Riyals, with the option to increase voting power through additional financial contributions. The conditions include requiring candidates for club management positions to hold a bachelor's degree and the use of independent committees for elections and grievance procedures. Additionally, clubs must appoint a full-time financial manager and a CEO, and adhere to a code of conduct to protect minors and people with disabilities. Furthermore, the regulations prohibit dissolving or merging clubs without approval from the Ministry and impose financial guarantees to ensure the clubs' operations for a period of five years.
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