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☆ Will the Saudi prince get his 1.5% GDP growth from sports?
▼ + stars: | 2023-10-17 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

The PIF, with estimated assets of around $700 billion, has also flexed its financial muscle in golf, tennis, boxing and motorsport, to name a few, along with a slew of music and entertainment ventures. These investments are all part of Saudi Arabia's Vision 2030 program, an ambitious plan to diversify the country's economy away from its traditional reliance on oil and gas exports. Saudi Arabia's growing presence in sport and entertainment around the world has given rise to allegations of "sportswashing" — with critics claiming the regime is using sport to launder its international reputation against the backdrop of a dismal human rights record. In a recent interview, Saudi Crown Prince Mohammed bin Salman, the country's de facto leader and architect of Vision 2030, said he was happy to sportswash if it boosted the kingdom's GDP. But what role does this sporting spending spree play in the kingdom's efforts to secure its economic future, and will it work?

Persons: Prince Mohammed bin Salman Organizations: Saudi, Public Investment Fund, English Premier League, Newcastle United Locations: Europe's, Saudi

☆ Saudi Pro League COO lays out the long-term strategies for the league
▼ + stars: | 2023-09-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSaudi Pro League COO lays out the long-term strategies for the leagueCarlo Nohra, chief operating officer at Saudi Pro League, says "we are delighted with where we are at the moment, but still need to continue to delivery to fans of what they wish to have form Saudi football."

Persons: Carlo Nohra Organizations: Saudi Pro League, Saudi

☆ Saudi binge is fiscal free kick for European clubs
▼ + stars: | 2023-08-18 | by ( Streisand Neto | ) www.reuters.com time to read: +3 min

The Saudi binge may help European teams raise funds and meet tough new financial rules. The Roshn Saudi League is a top scorer in the football transfer market. UEFA, the governing body for European football, has introduced new rules limiting clubs’ spending on wages, transfers and agent fees to 70% of revenue. European clubs should take the money before the referee's whistle blows. Saudi clubs have spent over 550 million euros buying players from European clubs in the 2023/2024 transfer season, according to Transfermarkt.

Persons: Al Hilal's, Neymar, Fahd bin Saad Al, Neymar da Silva Santos Júnior, Germain, Rúben Neves, Prince Mohammed bin Salman, Len Blavatnik, China’s, Oscar, Marouane, Hilal, Cristiano Ronaldo, Karim Benzema, Neil Unmack, Thomas Shum, Pranav Kiran Organizations: Soccer, Al, Saudi Pro League, REUTERS Acquire, Reuters, Paris Saint, Saudi, Saudi Public Investment Fund, Britain’s Premier League, Premier League, Deloitte’s Sports Business, UEFA, Deloitte, Reuters Graphics Reuters, Bloomberg, BBC, Thomson Locations: Al Hilal, Paris, France, Saudi, Hilal, Saudi League, Al, Ittihad, Saudi Arabia, Riyadh, Kingdom, Saudi Arabian

☆ Saudi champions Al Ittihad sign 'global football icon' Benzema
▼ + stars: | 2023-06-06 | by ( Fernando Kallas | ) www.reuters.com time to read: +3 min

Benzema, who ended a trophy-laden 14 years at Real this week, joins the Saudi Arabian champions on a three-year deal and will wear the number nine shirt. I have been fortunate to achieve amazing things in my career and achieve everything I can in Spain and Europe," Benzema said. I am looking forward to joining my new team mates and, together with them, help take this amazing club and the game in Saudi Arabia to new levels." Al-Ittihad last month clinched the Saudi Pro League title for the first time since 2009. "Benzema's arrival is the most impactful transfer in the club's history to date," Al Ittihad said in a statement.

Persons: Ballon, Karim Benzema, Al, Benzema, Cristiano Ronaldo, Al Nassr, Ronaldo, Didier Deschamps, Mathieu Valbuena, Lionel Messi, Al Ittihad's, Anmar Alhailae, Karim, Osama Khairy, Aziz El Yaakoubi, Mohamed Yossri, Aadi Nair, Rohith Nair, Toby Davis, Ken Ferris Organizations: Al Ittihad, Real, Saudi, Olympique Lyonnais, Juventus, League, Saudi Pro League, SAUDI FOOTBALL, Reuters, Al, Benzema, Thomson Locations: Saudi Arabia, Real Madrid, Saudi Arabian, Spain, Europe, Portugal, France, Qatar, Ittihad, Portuguese, Al Ittihad, Argentina, Hilal

☆ Saudi money is flowing to US media and entertainment, from Live Nation to LIV Golf, 5 years after Jamal Khashoggi's murder: 'The ice has thawed'
▼ + stars: | 2023-04-03 | by ( Claire Atkinson | Lucia Moses | ) www.businessinsider.com time to read: +20 min

Sovereign funds and other entities in Saudi Arabia, Qatar, and the UAE are pouring millions into US media and entertainment. Insider identified some key people connecting Middle East investors with American companies. Saudi Arabia is trying to pitch itself to the world as a cultural and economic reformer and spur tourism. Vince McMahon's WWE has a long-term partnership with the Kingdom of Saudi Arabia, with a major live WWE event there slated for May. Vince McMahon's WWE was one of the first US companies to create unique events in Saudi Arabia.

☆ Saudi money is pouring into Hollywood and media, 5 years after the murder of Jamal Khashoggi. Here's who's cashing in and how.
▼ + stars: | 2023-03-15 | by ( Claire Atkinson | Lucia Moses | ) www.businessinsider.com time to read: +13 min

Sovereign funds and other entities in Saudi Arabia, Qatar, and the UAE are pouring millions into US media and entertainment. Saudi Arabia is trying to pitch itself to the world as a cultural and economic reformer and spur tourism. Even those media players that are comfortable with invetment from the Middle East may not find funds flowing, one Hollywood veteran said. A major live WWE event in Saudi Arabia is slated for May. Of the growing ties between US entertainment and media and Middle East investors, this person added, "Presumably media organizations got into this to help society make better decisions."

☆ Al Nassr coach Garcia hails 'extraordinary' Ronaldo signing
▼ + stars: | 2023-01-03 | by ( ) www.reuters.com time to read: +1 min

Jan 3 (Reuters) - Al Nassr coach Rudi Garcia said the signing of Cristiano Ronaldo was a big step forward for Saudi Arabian football after the Portuguese forward arrived in Riyadh ahead of his official unveiling on Tuesday. Ronaldo, who was a free agent following his acrimonious split with Manchester United in November, joined Al Nassr last week on a 2-1/2 year deal estimated by media to be worth more than 200 million euros ($213.30 million). "The signing of a player the size of Cristiano Ronaldo is extraordinary and contributes to the development of Saudi football," said Garcia, who previously managed Lille, AS Roma, Olympique Marseille and Olympique Lyonnais. The first goal is to work so he can adapt to our team, to enjoy playing for Al Nassr, and to entertain the fans." Ronaldo will be unveiled at Al Nassr's home ground Mrsool Park, where 25,000 fans are expected to turn up.

☆ Israeli journalists experience chilly reception at Qatar World Cup
▼ + stars: | 2022-12-02 | by ( Hadas Gold | ) edition.cnn.com time to read: +13 min

Former Israeli football star, and now a commentator Eil Ohana posted a video showing a Qatari police officer driving him in a golf cart. Videos have gone viral in Israel and the Arab world showing football fans yelling at Israeli reporters, refusing to speak to them because of where they are from. Canadian pop star Justin Bieber launched clean water company Generosity at Qatar’s World Cup, to provide premium alkaline water in refillable fountains across the globe. The pitch invader who waved a rainbow flag on the field during Portugal’s World Cup match with Uruguay on Monday said FIFA president Gianni Infantino came to the Qatari police station to free him in order to “avoid more controversy.”Thursday’s Group E FIFA World Cup match between Costa Rica and Germany saw an all-women refereeing team for the first time in men’s World Cup history. Stephanie Frappart, from France, led the refereeing team, making her the first woman to referee a men’s World Cup match.

☆ Saudi Arabia's injured Al-Faraj out of the World Cup
▼ + stars: | 2022-11-27 | by ( Shady Amir | ) www.reuters.com time to read: +1 min

Al RAYYAN, Qatar, Nov 27 (Reuters) - Injured Saudi Arabia captain Salman Al-Faraj is out of the World Cup after coach Herve Renard agreed to let him leave the camp, the Saudi Football Association said on Sunday. Al-Faraj was injured at the end of the first half of the historic 2-1 victory over Argentina in Saudi Arabia's first match in the tournament on Tuesday. He left the stadium on crutches, with an apparent leg injury, and Renard said he did not expect him to participate in any more matches at the finals. Saudi Arabia, who lost 2-0 to Poland on Saturday, are equal with Argentina on three points while Poland top the group with four and Mexico are last with one point. Saudi Arabia need to beat Mexico in the last match in the group on Wednesday to ensure qualification for the last 16, regardless of the outcome of the match between Poland and Argentina.

☆ Lionel Messi fronts up to defeat after World Cup shock
▼ + stars: | 2022-11-23 | by ( Ben Church | ) edition.cnn.com time to read: +5 min

Doha, Qatar CNN —Argentina’s game against Saudi Arabia on Tuesday was supposed to serve as the perfect springboard for Lionel Messi’s last dance at the World Cup. But the Argentine captain was overshadowed by arguably the biggest upset in World Cup history and, as Saudi Arabia celebrated its win, Messi trudged down the tunnel with a face of thunder. The seven-time Ballon d’Or, who has yet to lift the World Cup trophy, didn’t hide from the embarrassment though. At the final whistle, the Argentine fans were slumped in their seats and it was the Saudi supporters chanting Messi’s name ironically. Saudi Arabia faces Poland in its next game before playing Mexico.

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