His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, launched on Monday the investment and allocation project for sports clubs, after the completion of the executive procedures of the first stage, in order to achieve the objectives of the Saudi Vision 2030 in the sports sector, aimed at building an effective sports sector, by stimulating the private sector and enabling it to contribute to the development of the sports sector, in order to achieve the desired excellence for national teams, sports clubs and practitioners at all levels.

At the current stage, the project includes two main tracks; the first is to approve the investment of major companies and development entities in sports clubs, in exchange for transferring ownership of the clubs to them, and the second is to launch a number of sports clubs for allocation starting from the last quarter of 2023.

The project is based on three strategic objectives, which are to create qualitative opportunities and an attractive environment for investment in the sports sector to achieve a sustainable sports economy, raise the level of professionalism and administrative and financial governance in sports clubs, in addition to raising the level of clubs and developing their infrastructure to provide the best services to sports fans, which is positively reflected on improving the public experience.

The transfer and allocation of clubs in general aims to achieve qualitative leaps in various sports in the kingdom by 2030, to create a mathematically distinguished generation at the regional and global levels, in addition to the development of the football game and its competitions in particular, to reach the Saudi league to the list of the best (10) leagues in the world, and increase the revenues of the Saudi Professional League from 450 million riyals to more than 1.8 billion riyals annually, in addition to raising the market value of the Saudi Professional League from 3 billion to more than 8 billion riyals.