Saudi Arabia has launched an investment program to promote sports in the world The program is one of the goals of the 2030 reforms that Sau...
Saudi Arabia has launched an investment program to promote sports in the world
The program is one of the goals of the 2030 reforms that Saudi Arabia has put forward, by making the country the leader in sports and entertainment in the world.
Saudi Arabia's sovereign wealth fund has launched a new sports investment company to attract "the world's biggest sports events" to the kingdom.
He took this step while the country continues to buy world famous football players.
The company named, SRJ Sports Investments, "will invest in the development and creation of new sports programs Intellectual Property (IP) and commercial activities and prominent major sports competitions and host major international sports programs in Saudi Arabia, "according to a statement released by the Community Investment Fund (PIF).
The company will focus on businesses that specialize in providing exceptional services for fans and revolutionizing sports technology and strengthening Saudi Arabia's position by placing the country at the forefront of sports and entertainment in the world. .''
Renew the Kingdom
Sports has been one of the areas that the oil-rich kingdom has prioritized in its efforts to turn it into a business and tourism industry in the world under the 2030 transformation plan that the Prince-in-waiting The legacy of Mohammed bin Salman is followed by the head of the PIF program.
Football clubs in the Gulf region, which are prominent in the export of crude oil in the world, have signed agreements with famous football players, starting with Cristiano Ronaldo last year, followed by Karim Benzema, Jordan Henderson and Sadio Mane this year. despite not being successful in matching Kylian Mbappe and Lionel Messi.
Also, Saudi Arabia shocked the world with the game of Golf after the amount of money it invested in the LIV team and sponsoring the Formula One Grand Prix.
The country has also focused on the ATP and WTA, which organizes men's and women's tennis tournaments, and organized an exhibition match for top male players outside the city of Riyadh last year.
The PIF fund is one of the largest wealth development programs in the world where it has assets of more than 620 billion dollars.