Business of Sport LIV Golf losses outside US widen to almost $400m Saudi-government owned LIV Golf posted a second year of financial losses, widening to almost $400 million in the 12 months to April 5, 2024, through its global tournaments outside the US. UK-based LIV Golf Ltd has attracted some of the world’s biggest names in the sport and runs tournaments in Australia, Singapore, Spain, Mexico, the […] February 19, 2025
Business of Sport PIF’s $1bn Dazn deal creates new Mena sports streamer Surj Sports Investment, a unit of Saudi’s Public Investment Fund (PIF), has acquired a minority stake in UK-based global sports network Dazn. The deal, believed to be worth $1 billion, will establish new broadcasting joint venture Dazn Mena, which the companies say will broadcast live and on-demand sports from Saudi Arabia. The partnership will also […] February 18, 2025
Business of Sport Contractors invited to bid for Qatar racecourse expansion Qatar has started inviting contractors to bid on the expansion of its second-largest horse racecourse. The design and build contract covers the development of the fourth phase of the Al Uqda equestrian complex. This covers expansion of the existing track, a new straight racecourse, an additional grandstand of 5,000 square metres for spectators, a new […] February 11, 2025
Analysis Business of Sport PIF backs $5bn NBA rival basketball league Saudi Arabia’s Public Investment Fund is planning to back a new $5 billion basketball competition in Europe and Asia that’s expected to rival the US’s National Basketball Association (NBA), according to media reports. The unnamed tournament will feature six men’s and six women’s teams playing in eight host cities in Europe and Asia. The competition […] February 10, 2025
Analysis Business of Sport Saudi football spending takes youthful turn as big names depart It says much for the evolution of football in Saudi Arabia that the main talking points of the winter transfer-window were of individuals leaving the league rather than multi-million dollar signings. The majority of headlines in the last week of January were devoted to the departures of Brazilian forward Neymar, effectively having his contract ripped […] February 4, 2025
EXCLUSIVE Markets AlMajal AlArabi considers listing on Saudi Arabia’s Tadawul Saudi Arabia’s AlMajal AlArabi Group (MAG) is considering an initial public offering on the Tadawul main market and has appointed Riyad Capital as an adviser, people familiar with the plans told AGBI. The Riyadh-based facilities management and construction company is exploring a share sale as Saudi Arabia’s infrastructure and services sectors expands, driven by multi-billion-dollar […] January 31, 2025
Opinion Business of Sport Neymar’s Saudi Arabia stint is an economic lesson for its football goals Beset by injuries, Neymar only played seven games for his Saudi employers January 30, 2025
Business of Sport Saudi Arabia in talks to host MMA facility at Qiddiya Saudi Arabia has been identified as a potential host for a multi-use mixed martial arts facility akin to the Ford Center at The Star in the US, the head of MMA organisation the Professional Fighters League (PFL) has said. The Star is a partnership between the city of Frisco in Texas and the Dallas Cowboys […] January 25, 2025
Business of Sport NBA’s LeBron James joins PIF-backed electric raceboat series Lebron James, the NBA basketball star, has signed up as team owner in the UIM E1 World Championship, the all-electric raceboat series. James was named as owner of Team AlUla, named after the ancient oasis city in Saudi Arabia, ahead of the start of the 2025 season on Saturday in Jeddah. The championship, now in […] January 24, 2025
Business of Sport PIF close to $1bn stake deal in sports network Dazn Saudi Arabia’s Public Investment Fund is close to agreeing a deal to acquire a 10 percent stake in the UK-based global sports network Dazn. The deal, which has been under discussion for more than a year, is said to be worth at least $1 billion, which would value the broadcaster at $10 billion, the New […] January 15, 2025
Business of Sport Qatar Airways signs $97m deal to sponsor new rugby tournament Qatar Airways has agreed a $97 million deal to sponsor the new World Rugby Nations Championship. The eight-year deal will cover the qualifying matches and finals for the first four editions of the rugby union tournament from 2026 to 2034. The agreement is the biggest title sponsorship in international rugby, according to The Guardian. The […] January 13, 2025
Business of Sport Stake in Premier League team sought by Saudi brothers A US-Saudi group has reportedly signed an exclusivity agreement to buy 45 percent of the English Premier League club Crystal Palace. A consortium funded by the Saudi brothers Mansoor and Haider Syed, which includes US sports and business executives, has agreed to buy the stake in the club owned by the American company Eagle Football, […] January 7, 2025
Business of Sport World Cup contractors may have to register in Saudi Foreign companies hoping to capitalise on Saudi Arabia’s SAR100 billion ($26.6 billion) World Cup preparations must be registered in the kingdom, according to the chief executive of a leading Saudi-based investment company. “Don’t waste time offering services from abroad,” said Mohammed AlQahtani, CEO at Saudi Arabia Holding Company, a private equity firm in Riyadh, in […] December 31, 2024
Opinion Business of Sport Riyadh will take a measured, domestic approach to its World Cup The sense that the 2034 tournament will be ‘by Saudis, for Saudis’ looms large December 24, 2024
Business of Sport Prince sells English football club to US consortium Saudi Arabia’s United World Group, led by Prince Abdullah bin Mosaad bin Abdulaziz Al Saud, has sold its interest in the English Championship side Sheffield United. The club, currently sitting at the top of the table heading into the busy Christmas schedule of fixtures, has been taken over by the American consortium COH Sports for […] December 24, 2024
Business of Sport Manchester City reports record revenues Despite a recent slump in form on the pitch, the Abu Dhabi-backed English football team Manchester City is thriving commercially, its annual report revealed this week. The club has announced record-breaking revenues of £715 million ($903 million) for the past year, with profits of £73.8 million. Chairman Khaldoon Al Mubarak said: “Our focus remains on […] December 13, 2024
Opinion Business of Sport Taking Saudi Arabia’s World Cup 2034 from ambition to reality It should focus on multipurpose, practical stadiums that serve communities long after the final whistle December 13, 2024
Business of Sport UAE sports hotel brand plans regional expansion A sports hotel brand developed in the UAE intends to expand in the Gulf region, its CEO has said. Emirates Sports Hotel and Apartments is a 192-bed facility in Dubai that is specifically designed to cater to the needs of athletes and sportspeople. Large rooms, health and fitness-conscious meals, and the availability of yoga mats […] December 13, 2024
Business of Sport Saudi Arabia wins 2034 Fifa World Cup bid Fifa, the world football governing body, has officially named Saudi Arabia as the host nation for the 2034 World Cup. The kingdom submitted its bid to host the event in July under the slogan “Growing. Together” after Fifa invited bids from countries in Asia and Oceania last year. The only country in contention, Australia, did […] December 12, 2024
Business of Sport PIF close to $1.5bn stake in PGA commercial arm Saudi Arabia’s Public Investment Fund is close to agreeing a deal to acquire a minority stake in PGA Tour Enterprises, the tour’s commercial arm. The sovereign wealth fund is aiming to acquire a stake of around 6 percent as part of the deal, Bloomberg reported. The investment will amount to $1.5 billion, the Wall Street […] December 11, 2024
People & Lifestyle UAE’s Arada strengthens gym holding Arada has finalised the purchase of three UAE-based gym brands, bringing its total number of premises operated across the Gulf state to 15. The real estate developer said that the women-only FitnGlam, boutique exercise hub The Platform Studios and recently launched health club Fitcode make its fitness and wellness division, Wellfit, worth more than AED1 […] December 10, 2024
Analysis Business of Sport Saudi Arabia expands global reach with 900 sports deals Saudi Arabia’s vast number of sports sponsorship deals, now in excess of 900, are part of the kingdom’s strategy to diversify away from oil but their long-term success will not be known for some time to come, experts have said. Play the Game, a publicly funded sports ethics institute in Denmark, compiled a list of […] December 9, 2024
