Six sports clubs spread across various divisions are up for bids from domestic and international investors, according to the Saudi Arabian Ministry of Sport and the National Center for Privatization and Public-Private Partnership (NCP).
This project is a component of the Crown Prince's sports club investment and privatization plan, which is in line with Saudi Vision 2030's goals.
Investors will first use the NCP website to submit expressions of interest and requests for qualification as part of the phased privatization process. There will be no end to the procedure before September 19, 2024.
"Riyadh, August 5, 2024." Today, August 4, 2024, the Ministry of Sport, in partnership with the National Center for Privatization and Public-Private Partnership (NCP), announced that it will be inviting bids from domestic and international investors for six distinct sports clubs situated in various divisions. Among the clubs taking part in this phase are Alzulfi, Alnahda, Alokhdood, Alansar, Alorouba, and Alkholoud. In its most recent announcement, the Ministry declared that on Wednesday, July 3, 2024, the Second Phase of the Sports Clubs Investment and Privatization Project Second Track would begin. The approval of the Council of Ministers to privatize 14 sports clubs in the Kingdom of Saudi Arabia served as the foundation for this statement.This choice is in line with Saudi Vision 2030's goals and is a part of the sports club investment and privatization project of His Royal Highness the Crown Prince, which is now under progress. Furthermore, it aims to enable the corporate community to support the growth and development of the sports sector, which will benefit all players, coaches, clubs, national teams, and spectators.Starting with the six teams, we will gradually carry out the privatization procedure until the commercial closure and ownership transfer are finished. Using the "Investors Portal" on the NCP website, investors will first submit their expressions of interest (EOI) and requests for qualification (RFQ). This procedure will run until September 19, 2024, at 4:00 PM Saudi time. This will signify the start of the procedure. We will next go over and evaluate the requests before opening it up to qualified businesses to submit their technical and financial offers. After the official negotiating process begins, we will evaluate the best offers and make the investment groups that purchased the aforementioned clubs known.Businesses interested in investing in the sports industry now have unique opportunities thanks to this announcement. These prospects correspond with the noteworthy transformation the industry is undergoing as a result of the Kingdom of Saudi Arabia's leadership and the goals of Vision 2030. This will strengthen alliances and collaborations between the public and private sectors, helping to build a strong and long-lasting national economy and boosting the Kingdom's sports sector.