Saudi National Center for Privatization extends deadline for bids on six sports clubs to October 20

By Fahd Al-Talal

The National Center for Privatization has extended the deadline for receiving bids from local and international investors to purchase six sports clubs until October 20, 2024, Maaal newspaper has learned. The original qualification period, which ended on September 19, has been lengthened to attract more interest from potential investors.

The clubs involved in the privatization are Alzulfi, Alnahda, Alokhdood, Alansar, Alorouba, and Alkholoud. This extension is part of the second phase of the sports clubs privatization project, a key initiative within the Kingdom’s Vision 2030 framework aimed at enhancing private sector participation in the sports industry.

The privatization process involves multiple stages, starting with the submission of investor qualifications through the “Investors” portal on the National Center for Privatization website. Once applications are reviewed, approved investors submit financial and technical offers, which lead to negotiations and the selection of successful bidders. The process culminates in the official transfer of ownership.

This initiative is part of Crown Prince Mohammed bin Salman’s broader efforts to attract private sector investment into Saudi Arabia’s sports sector. The program aims to improve club governance, enhance the fan experience, and create commercial opportunities for clubs, all while contributing to the Kingdom’s economic and social objectives under Vision 2030.

According to the Ministry of Sports, the project supports key Vision 2030 goals by fostering collaboration between Saudi sports entities and international investors, promoting professionalism in club management, and providing sustainable financial growth for sports organizations. The program is expected to boost competitiveness, increase revenues, and reduce costs, ensuring a long-term impact on the sports sector.

Private sector investment will also play a vital role in elevating fan engagement, expanding community participation in sports, and nurturing Saudi talent, creating a more vibrant and competitive sports industry.