Analysis Business of Sport Morocco makes 2030 World Cup a focus for investment The artist’s impression shows a massive polygonal structure, with an aluminium lattice roof draped in floating cream sheets. This is the Grand Stade Hassan II de Casablanca at Benslimane, north of Morocco’s commercial capital. The successful design was unveiled earlier this week by the winning architects, the Casablanca-based Oualalou + Choi and the arena specialist […] August 25, 2024
Business of Sport Saudi Arabia adds soccer in North America to sports portfolio Saudi Arabia has added the Confederation of North, Central America and Caribbean Association Football (Concacaf) to its squad of sporting investments. The kingdom’s sovereign wealth fund has partnered with the regional governing body for soccer “to support the growth of the sport at all levels”. The Public Investment Fund will sponsor football development initiatives, with […] August 16, 2024
Analysis Banking & Finance Riyadh’s investment law reforms tipped to win over sceptics Saudi Arabia’s investment law reforms are poised to release a backlog of pent-up deals – and are a tacit admission that procedures have often been cumbersome, analysts have told AGBI. Under the overhaul announced on Sunday, elements of Vision 2030 and the National Investment Strategy will be combined in a single framework that aims to […] August 13, 2024
Business of Sport Football continues to attract tourists to Qatar Qatar’s strategy of staging major sporting events continues to reap economic benefits, as regional football tournaments help to attract tourists to the Gulf state. Visitor numbers rose 28 percent in the first half of 2024, benefitting its hotels and wider hospitality businesses. A total of 2.6 million international tourists visited in the first six months […] August 8, 2024
Business of Sport Investor bids invited for six Saudi football teams Saudi Arabia this week opened bids for six football teams as part of its new drive to monetise the kingdom’s sport sector and raise its foreign direct investment numbers. Local and international investors are invited to bid for Al-Okhdood, Al-Orouba and Al-Kholoud – all in Saudi Arabia’s top Pro League – as well as Al-Zulfi, […] August 8, 2024
Business of Sport PIF could buy into English cricket’s The Hundred Saudi Arabia’s Public Investment Fund is reportedly considering buying a stake in the UK’s The Hundred cricket tournament. The potential move comes after confirmation that the sovereign wealth fund will next turn its attention to the sport. PIF would acquire a new team to be established in Durham in England’s north-east, adding to the eight […] August 2, 2024
Business of Sport Saudi Arabia’s World Cup bid outlines 11 new stadiums Saudi Arabia plans to build 11 new stadiums as part of its 2034 World Cup bid, including one inside its horizontal city The Line, but without any breakdown of the costs. The Saudi bid – which is expected to win formal Fifa approval this year – centres on five cities: Riyadh, Jeddah, Khobar, Abha and […] August 1, 2024
Leisure & Hospitality Riyadh to get a new 45,000-seat stadium Riyadh, the Saudi capital, is set to house another new world-class stadium as the kingdom bets on becoming a global sporting hub. The 45,000-seat stadium in south-west Riyadh will be developed by Roshn Group, a giga-project developer backed by the Public Investment Fund, the kingdom’s sovereign wealth fund. The stadium will be part of a […] July 31, 2024
Business of Sport Saudi Arabia formally bids to host Fifa World Cup 2034 Saudi Arabia has officially submitted its bid to host the Fifa World Cup 2034. The bid books will be published after the official deadline ends on July 31, the football governing body said in a statement. Saudi officials, including sports minister Prince Abdulaziz bin Turki Al Faisal and Saudi Arabian Football Federation president Yasser Al […] July 30, 2024
Opinion Business of Sport Hosting the Olympics is set to be a marathon for Gulf bidders If Qatar and Saudia Arabia bid for 2036 they face a race against time to train medal-winning talent July 29, 2024
Business of Sport King Salman Stadium in Riyadh to open in 2029 The King Salman Stadium in Riyadh – planned to be one of the world’s largest sports arenas – will be ready in the fourth quarter of 2029, as the kingdom continues its investments in the sports sector. The stadium will serve as the Saudi national team’s main headquarters, the state-owned Saudi Press Agency reported, quoting […] July 29, 2024
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
