Business Daily
Saudi Arabia's multi-billion dollar football powerhouse bet
Nov 6, 2023
Explore Saudi Arabia's ambitious plan to be a football powerhouse, attracting top players with million-dollar salaries. Discuss the country's strategy to improve its football league, use sports to manage its image and develop its economy. Delve into Saudi Arabia's sport washing efforts and goal to become a global football powerhouse despite low stadium attendance.
17:42
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Quick takeaways
- Saudi Arabia's investments in football are part of a larger economic diversification strategy known as Vision 2030, aiming to reduce dependence on oil exports and boost GDP through sports development.
- The Saudi Pro League faces challenges in becoming a top-tier competition, including lack of depth, limited media interest, and low attendance, but Saudi officials are determined to improve commercial appeal and secure global recognition.
Deep dives
Ambitious Project to Attract Global Stars
The Saudi Pro League is embarking on an ambitious project to attract global football stars by offering lucrative salaries. The league, backed by the Public Investment Fund (PIF), has acquired top Saudi football clubs and invested heavily in high-profile transfers. Players like Neymar Jr., Cristiano Ronaldo, and Ruben Neves have joined Saudi teams, igniting excitement among fans. The goal is to improve league performance, increase stadium utilization, and maximize commercialization. While critics accuse Saudi Arabia of sports-washing, similar strategies have been used by other countries to manage their image and reputation through football.
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