viagramof – The Ministry of Sports in the Kingdom of Saudi Arabia announced, this Wednesday afternoon,
viagramof – The Ministry of Sports in the Kingdom of Saudi Arabia announced, on Wednesday afternoon, the start of the second phase of the second track in the investment and privatization project for sports clubs, in coordination with the National Center for Privatization.
6 sports clubs offered for privatization to investors
This came based on the Cabinet’s decision issued yesterday, Tuesday, approving the document of the project to allocate (14) sports clubs of various levels, as this comes as a continuation of the stages of the project launched by His Highness the Crown Prince.
This comes in order to achieve the goals of Saudi Vision 2030, and to encourage the private sector to participate in building and developing the sports sector, in order to achieve the desired benefit for teams, clubs and all practitioners.
This phase includes offering six sports clubs for privatization to local and international investors, namely: (Al Zulfi, Al Nahda, Al Akhdoud, Al Ansar, Al Orouba, Al Khulud), where investors wishing to compete for these clubs can enter the investors’ portal, via the National Center for Privatization website, to apply.
The necessary conditions and information will be obtained starting from the beginning of next August, to be followed by the completion of the offering of the remaining eight clubs in succession, which are: (Al-Sha’la, Hajr, Al-Najma, Al-Riyadh, Al-Rawdah, Jeddah, Al-Taraji, Al-Sahel).
The investment and privatization project for sports clubs was launched through two main tracks; the first is the approval of companies and development agencies to invest in sports clubs, in exchange for transferring ownership to them, as this track included (8) clubs, while the second track is offering a number of sports clubs for privatization, which was launched by registering the interest of local and international entities wishing to invest in sports clubs as the first stage of the track, to complete the track currently in its second stage.
