Opinion Business of Sport Gulf countries vie to add Olympics to the trophy cabinet Qatar and Saudi Arabia are keen to bid despite sky high costs July 22, 2024
Business of Sport Qatar’s beIN to pay €100m to broadcast French football games Qatar broadcaster beIN has agreed to pay €100 million ($109 million) annually for the rights to broadcast one French Ligue 1 football match per week, according to a news report. The sports channel is paying a premium per game as its package includes the most sought-after fixtures, the Financial Times reported, citing informed sources. DAZN, […] July 16, 2024
Business of Sport Anyone for cricket? Saudi Arabia’s next big sports play Saudi Arabia is aggressively courting much-needed foreign investment to commercialise its emerging sport sector, part of its Vision 2030 plan to diversify from its dependence on wealth from hydrocarbons. Basim Ibrahim, director of sport investment development at Saudi’s Ministry of Investment, said the kingdom, which has already put its football clubs up for sale, is […] July 15, 2024
Business of Sport Saudi PIF ups stake in Newcastle United to 85% Saudi Arabia’s sovereign wealth fund – the Public Investment Fund (PIF) – has increased its stake in Newcastle United football club to 85 percent from 80 percent. PIF and RB Sports & Media, the sporting arm of the UK-based Reuben Brothers, will together acquire PCP Capital Partners’ shareholding in the club, the stake co-owned by […] July 15, 2024
Analysis Business of Sport Saudi football spending tipped to tumble as economy falters Saudi Arabia’s domestic football ambitions may have to take a back seat this year as the kingdom focuses on funding its $1.25 trillion giga-projects programme, according to analysts. Last summer Saudi Pro League clubs spent close to $1 billion signing the likes of Neymar, Ruben Neves and N’Golo Kante. This year’s transfer window is expected […] July 14, 2024
Real Estate Sports and entertainment to push up Riyadh retail rents The sports and entertainment sectors will be key drivers in Riyadh retail rents rising by 28 percent by 2026, according to new research, with rates already up 3 percent in the past year. “The total existing retail supply in Riyadh stands at 3.6 million square metres, with around 27,050 square metres of retail space entering […] July 11, 2024
Business of Sport Saudi Arabia to build world’s tallest sports tower A design for the world’s tallest sports tower, to be built in Riyadh’s Sports Boulevard development, has been approved. The mega project is part of the $23 billion development launched by King Salman in 2019 to expand green areas in the capital, including the world’s biggest city park. The other three projects are King Salman […] July 11, 2024
Business of Sport Fourteen Saudi football clubs for sale in new FDI drive Fourteen Saudi football clubs are up for sale, including four from the country’s top Pro League, as the country tries to monetise the sport and attract much-needed foreign investment. Six teams, including three in the Pro League – Al-Okhdood, Al-Orouba and Al-Kholoud – will be offered from August. The other eight will follow at a […] July 4, 2024
Analysis Business of Sport Mena football teams weigh appeal of revamped Club World Cup Football teams from Saudi Arabia, the UAE, Egypt, Morocco and Tunisia will compete alongside the likes of Real Madrid and Bayern Munich at Fifa’s revamped Club World Cup next summer, potentially giving the Mena outfits unprecedented global exposure. The United States will host the 32-team tournament in June and July 2025. Yet less than a […] June 28, 2024
Business of Sport Visas on offer as Esports World Cup hits Saudi Arabia Saudi Arabia is offering electronic visas for ticket holders for the first Esports World Cup, which starts next week at an entertainment district in Riyadh called Boulevard City. The event is being held over eight weeks from July 3. Around 1,500 players from 500 international clubs will compete for this year’s record total prize money […] June 27, 2024
Manufacturing Mumtalakat invests in Italian motorsport safety products Mumtalakat, Bahrain’s sovereign wealth fund, has invested in Italian Racing Force, the parent company of Racing Force Group (RFG), makers of motorsport safety products. The investment, made through its wholly owned subsidiary, aims to support the expansion of Racing Force’s helmet factory in Bahrain. Shaikh Abdulla bin Khalifa Al Khalifa, CEO of Mumtalakat, said that collaborating […] June 27, 2024
Business of Sport Saudi sports push ‘winning global audiences’ Saudi sports investments are winning a global audience as the kingdom tries to overcome charges of “sport washing”, a major survey of media coverage said this month. Media analytics consultancy Carma found that coverage of human rights in Saudi Arabia fell in favour of “a sports-related narrative” around the world, including in the West. The […] June 25, 2024
Business of Sport UAE’s Mubadala acquires new Brazil SailGP team Mubadala Capital, a wholly owned subsidiary of Abu Dhabi’s Mubadala Investment Company, has acquired a new team in SailGP, the global racing championship, to represent Brazil. The team will be the first South American squad to join the SailGP league and the first of the new teams confirmed ahead of Season 5, the state-run Wam […] June 24, 2024
Business of Sport Saudi wealth fund in talks to create new boxing league Saudi Arabia’s sovereign wealth fund is in talks with boxing promotion companies to create a new boxing league, as the kingdom expands its investments into the sporting sector, according to a media report. The Public Investment Fund is negotiating with promoters such as the UK’s Matchroom Boxing and Golden Boy Promotions from the US to […] June 12, 2024
Business of Sport Qatar a step closer to hosting rugby Nations Championship Qatar has been given a two-month period of exclusivity to negotiate a deal to bring rugby’s Nations Championship to the Gulf state, according to reports. Last month Doha’s sport-focused Supreme Committee for Delivery and Legacy proposed an £800 million ($1 billion) eight-year deal to stage a six-match finals series, involving all 12 tier-one nations, starting […] June 6, 2024
Business of Sport Brokers pin hopes on darts being Riyadh’s next big sporting target Darts could be the next major sport to be staged in Saudi Arabia, with strong family ties linking it to brokers who have already negotiated deals in the kingdom, according to a leading sports analyst. Veteran sports promoter Barry Hearn revealed that discussions have taken place with a view to moving the PDC Darts World […] May 31, 2024
Opinion Business of Sport Marseille ticks boxes for Saudi’s next football foray Reports suggest the kingdom is keen to add the French club to its growing sports portfolio May 24, 2024
Business of Sport PIF to sponsor women’s world tennis rankings Saudi Arabia’s Public Investment Fund (PIF) is giving its name to the women’s world tennis rankings, the latest sponsorship deal in the kingdom’s drive to dominate global sports. “The PIF WTA Rankings will track players’ journeys, and PIF will work with the WTA to celebrate and support players’ progress,” PIF said, calling the deal “multi-year”. […] May 22, 2024
Business of Sport LIV Golf chief says rugby next in line for Gulf funds Talks are taking place with sovereign wealth funds and private equity entities about potential Gulf investment in rugby, according to Mark Foster, senior vice president of finance operations at Saudi-backed LIV Golf Investments. Foster, a former Gloucester and Exeter Chiefs professional rugby player, told The Good the Bad & the Rugby podcast that discussions have […] May 17, 2024
Opinion Business of Sport Qatar faces tough rivals in fight for sporting dominance Qatar must build on its football World Cup success and has rugby and the Olympics in its sights May 9, 2024
EXCLUSIVE Business of Sport Binance to launch new Ronaldo NFTs ‘soon’ amid legal case Cristiano Ronaldo and the world’s largest cryptocurrency exchange Binance are to launch a fourth set of non-fungible tokens (NFTs) “soon”, as the footballer faces a $1 billion lawsuit for promoting the company. The Al Nassr and Portugal forward signed a deal with Binance in 2022 to create NFTs – digital collectibles – using his “CR7” […] April 26, 2024
Business of Sport Saudi Aramco signs up with Fifa as World Cup sponsor Saudi Aramco, the world’s largest oil producer, has signed a four-year global partnership with international football association Fifa. The energy giant will become Fifa’s major worldwide partner with sponsorship rights for multiple events, including the Fifa World Cup 26, co-hosted by the United States, Canada and Mexico and the Fifa Women’s World Cup 2027. The value […] April 26, 2024
