Saudi Arabia are making moves to privatize the big clubs in Saudi Pro League as more big-name players arrive from Europe.
The Saudi Pro League is beginning to attract some of the biggest names in European football of recent.
The Saudi elite football league has witnessed spurts of growth and more publicity as some of the biggest characters in the game joins the league.
The signing of five times Ballon d’Or winner and footie icon, Cristiano Ronaldo, shot the Saudi Pro League to the spotlights with followership and audience on the rise.
Cristiano Ronaldo signed a two-year contract to play for one of the biggest clubs in Saudi Arabia, Al-Nassr.
The announcement of Cristiano Ronaldo transfer to Al-Nassr saw the following of the Ryadh-based club triple in a matter of minutes.
Apart from Cristiano Ronaldo, another footie icon, Lionel Messi was also linked to move to Al-Hilal, another Saudi giant before he chose to pit tent with Inter Miami in MLS.
Meanwhile, Cristiano Ronaldo former teammate at Real Madrid and Ballon d’Or winner, Karim Benzema has joined Al-Ittihad.
Chelsea legendary midfielder, N’Golo Kante has also joined Al-Ittihad. More players who have plied their trade in top clubs in Europe are expected to move to the Saudi Pro League in the coming weeks as the league ramp up attempts to boost its profile.
With the expected new arrivals, Saudi Arabia are planning to privatize the big clubs in the league that are attracting the big-name players.
As per the Aljazeera, Saudi Sovereign Wealth Fund overseen by Crown Prince Mohammed bin Salman are set to take over four biggest clubs in Saudi Arabia – Al-Nassr, Al-Hilal, Al-Ittihad, and Al-Ahli.
The planned transfer of the ownership of the four clubs is a move towards the privatization of the clubs to create room for growth and expansion.
The clubs in question were formerly under the control and administration of Saudi Arabia ministry of sports who were in charge of financing and the day-to-day activities of the clubs.
With the Saudi Sovereign Wealth Fund coming in, the clubs will be under Saudi Public Investment Fund, a gateway fund pool that facilitate privatization of state-run concerns.
The move by the Saudi authorities will allow the four clubs to be run in business-like formats by private entities. It will also mark a new era in the Saudi Pro League with more private investments expected to come into the league.
There are projections the Saudi Pro League will undergo immense transformations in the coming years. The privatization of the four big clubs is just a tip of the iceberg. With big stars joining the league and private investors allowed to own and manage clubs as the European leagues, the Saudi Pro League is well enroute to being one of the best and attractive leagues in Asia and in the world.
