JEDDAH: Saudi Arabia has allocated $453 million in three sports initiatives for the 2024–2025 season, with the objective of boosting club development and raising the country’s profile in the sector.
The decision is part of Saudi Arabia’s Clubs Support Strategy, which focuses on developing five key programmes, governance, various sports, and direct support, as well as fan attendance and digital transformation.
The Ministry of Sports in a post on X, stated that the allocations include $ 276.8 million in direct support for clubs in the Saudi Pro League, as well as those in the first and second divisions.
Saudi Arabia has hosted around 80 sports events over the past four years attracting 2.5 million visitors.
Major events include the Formula One race in Jeddah. The 2023 edition generated over 20,000 job opportunities and attracted attendees from 160 different countries.
In its post, the ministry also stated that Pro League teams will receive $ 12.51 million annually for public clubs and $ 11.9 million for private organizations. Additionally, each public or private club in the first-division league will get $1.6 million annually.
Each public club in the second division league will get $0.74 million per year, while private clubs will get $ 0.71 million each.
It added that a budget of $ 134 million was allocated for the various sports initiatives.
It also stated that $ 34 million has been allocated for the fan attendance initiative in the Saudi Pro League, with support contingent upon achieving performance indicators.
The Sports Ministry added that its e initiative aims to develop clubs administratively by applying standards and indicators that ensure their stability, growth, and goal achievement.
Saudi Arabia’s ongoing sports privatization undertaking has attracted considerable interest from local and international investors.
At the country’s recent Budget Forum 25, Sports Minister Prince Abdulaziz bin Turki Al-Faisal highlighted the economic potential of the privatization effort, estimating investments could reach $ 133 million.
