Privatization Efforts Reach Fourth Year Without Success
After four years of implementing the privatization strategy of the sports sector in Saudi Arabia, major clubs still suffer from weak financial sustainability despite pouring hundreds of millions of dollars into them. Although Al Hilal has achieved relatively moderate success with revenues exceeding one billion riyals last season, their massive expenses have reduced profit margins due to inflated contracts and debts accumulated to record levels. Other clubs, such as Al Ahly and Al Ittihad, face severe financial crises that prevent them from settling their obligations, while Al Nassr is struggling with debts reaching 800 million riyals. The cultural crisis is characterized by reckless spending and the absence of long-term strategies, hindering clubs from achieving sustainable financial independence. The report emphasizes the need to develop management minds focused on cultivating self-sustaining sources of income to ensure a future in sports that is both independent and economically stable.
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