Informed sources revealed to Asharq Al -Awsat that the youth and agreement clubs are awaiting the approval of the competent authorities to move forward in the allocation path, in preparation for the start of the allocation center by offering the shares of the two clubs through the public offering, at a time that has not yet been determined. The sources pointed out that the plans related to allocating these two clubs are still under study with the relevant authorities, without a rush in decision -making, which may put them in a different path from the rest of the clubs that are going in more advanced allocation stages.
In the same context, the sources expected that the privatization of Esperance, Al -Sahel, Al -Kindergarten, Al -Shua’a, Al -Riyadh, Al -Najma and Jeddah clubs will be announced during the next year, after completing the public offering of Al -Nahda, Al -Arabism and Al -Khadoud clubs that are expected to complete their allocation operations during the current year.
The Ministry of Sports began the first phase of the allocation project in June 2023, when 7 clubs were transferred to sports companies, including 4 major clubs that were transferred to companies owned by the Public Investment Fund, namely Al -Ittihad, Al -Ahly, Al -Nasr and Al -Hilal. The same stage also included the transfer of the ownership of 4 sports companies to clubs to development agencies; Where Al -Qadisiyah Club has moved to the ownership of the Saudi Aramco Company, the Diriyah Club to the Diriyah Gate Development Authority, and Al -Ula Club to the Royal Commission for Al -Ula Governorate, while the ownership of the Falcons Club has become the share of NEOM.
As for the second stage of the project, it witnessed during the past year the launch of 14 clubs in front of local and international investors, namely Al -Zulfi, Al -Nahda, Al -Khadoud, Al -Ansar, Al -Arabiya, Al -Khuloud, Al -Tarji, Al -Sahel, Al -Kawda, Al -Rawda, Al -Kharg, Al -Shua’a, Jeddah, Riyadh and Al -Najma. It is expected that the procedures for some of these clubs will be completed during the current year, and others are included in the next year’s schedule within the framework of an integrated vision to expand the sports investment base in the Kingdom.
The move comes within the strategic path adopted by the Ministry of Sports with the support of the National Transformation Program and “Saudi Vision 2030”, aimed at enabling clubs to achieve financial sustainability, raise the level of governance, and expand the investment participation base, in a way that enhances the competitiveness of the sports sector and gives it more flexibility and dynamism in the next stage.
