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News$87m in Saudi club revenue from commercial sponsorships

$87m in Saudi club revenue from commercial sponsorships

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The report tracked some of the numbers achieved through the Sports Club Support Strategy since its launch in 2019, as follows:

The number of club revenue from sponsors increased to 328 million riyals (about $87 million) in the 2022-2023 season, after revenue rose to 88 million riyals in the 2019 season. -2020, i.e. a growth of 300% in two years. 89% of clubs in the professional league were able to obtain a certificate of financial capacity, after the committee imposed rules and regulations to ensure the sustainability and quality of financial work, which was directly reflected in the reduction of obligations finances of sports clubs.

The number of official employees in Saudi clubs increased after the establishment of the governance system, as it reached more than three thousand male and female employees in the last season in 61 clubs, while the number of ‘athletes registered in clubs has increased to more than 80. thousand athletes after the number did not exceed 40 thousand athletes two seasons ago. , while the number of audiences increased in two years by 150 percent to 2.2 million fans.

And the Saudi Crown Prince had launched the sports club investment and privatization project, after completing the executive procedures of the first phase, in order to achieve the goals of Vision 2030 in the sports sector, as the project includes, at the current stage, two main tracks:

The first is to approve the investment of large companies and development agencies in sports clubs, in exchange for their transfer of ownership of the clubs, the second is to propose the privatization of a number of sports clubs, from last quarter of 2023.

The transfer and allocation of clubs generally aims to achieve qualitative leaps in various sports in Saudi Arabia by 2030, to create a distinguished generation in the sport at regional and global levels, in addition to developing football and its competitions in particular, to bring the Saudi League to the list of the ten best leagues in the world, and to increase the income of the Saudi League. For professionals, from 450 million riyals to more than 1.8 billion riyals per year, in more to increase the market value of the Saudi Professional League from three billion to more than eight billion riyals.

It should be noted that the ownership of Diriyah Club was transferred to the Diriyah Gate Development Authority, and the ownership of Al-Qadisiyah Club was also transferred to Aramco, and the ownership of Al-Ula Club was transferred to the Royal Commission for Al-Ula Governorate, and ownership of Falcons Club was transferred to NEOM Company, while ownership of clubs: Al-Hilal, Al-Nasr and Al-Ittihad was transferred and Al-Ahly to the Public Investment Fund.

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Arab Desk
Arab Desk
The Eastern Herald’s Arab Desk validates the stories published under this byline. That includes editorials, news stories, letters to the editor, and multimedia features on easternherald.com.

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