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RIYADH: The Saudi Ministry of Sport has launched the latest phase of the Sports Clubs Investment and Privatization Project to privatize 14 more clubs.

Initiated by Crown Prince Mohammed bin Salman last June, the project, rolled out in collaboration with the National Privatization Center, aims to accelerate the sports industry in the Kingdom by inviting business sector involvement with clubs.

Six additional clubs are now available for privatization starting in August: Al-Zulfi, Al-Nahda, Al-Okhdood, Al-Ansar, Al-Orouba, and Al-Kholoud. The clubs have been selected based on their operational readiness, financial health, administrative capabilities and athletic facilities.

An additional eight clubs — Al-Shoalah, Hajar, Al-Najmah, Al-Riyadh, Al-Rawdhah, Jeddah, Al-Taraji and Al-Sahel — will all also be up for privatization at a later stage.

Following the successful privatization of Al-Hilal, Al-Nassr, Al-Ahli, and Al-Ittihad during the first phase, the project now advanced into phase two.

As part of the commitment to accelerate the transformation of the sports sector, the project seeks to enhance the administrative and financial governance of clubs, creating new opportunities for sports investment in the country to develop club infrastructure, among other things. This, in turn, will take fan experiences to new levels, the ministry’s statement said.

The Roshn Saudi League has shown significant commercial revenue growth from last season after the privatization of clubs, with a goal to potentially reach an annual total of 1.8 billion Saudi riyals ($479,819).

With more than 80 percent of the population following, watching or playing football, the league’s development is enhancing the sport and entertainment experience for a big fanbase. This progress is raising the bar for clubs in the league, encouraging them to invest in facilities and stadiums.

With the help of the ministry, Al-Fateh, Al-Ettifaq, Al-Taawoun, Al-Shabab and Al-Hilal all moved into their own home stadiums during the 2023-24 season.

The Sports Clubs Investment and Privatization Project operates through two primary tracks. The first involves granting permission for businesses and development organizations to invest in sports teams in return for ownership transfer. The second involves offering publicly owned sports clubs for privatization. Investors interested in participating in this project can visit the ministry’s website for application details and further information.