Fitness Time establishes company specialized in paddle sports, financial impact expected in Q3

Leejam Sports Company (The Company) – the leading company in the sports field in Saudi Arabia and the Middle East region, owner and operator of the Fitness Time brands chain – announced on Monday the completion of the establishment of a company in the name of “Padel X Sports Company (Limited Liability Company)” (the new company), with a capital of fifty thousand SAR, in partnership with World Wide Padel, for the purpose of investing in Padel sports in the Kingdom of Saudi Arabia by building and operating Padel courts.

The new company said that its operations will start from the date of incorporation, and the financial impact will appear starting from the third quarter of 2023.

Leejam Sports Company, through its investment subsidiary, owns 51% of the shares of Padel X while World Wide Padel, through its Saudi subsidiary (Padelbolaget Sports Company), owns a 49% stake.