{"id":88470,"date":"2024-08-06T00:00:00","date_gmt":"2024-08-06T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/08\/06\/a-new-wave\/"},"modified":"2024-08-06T00:00:00","modified_gmt":"2024-08-06T00:00:00","slug":"a-new-wave","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/08\/06\/a-new-wave\/","title":{"rendered":"A new wave"},"content":{"rendered":"

The next round of football club privatization gets underway: <\/strong>Investors have until Thursday, 19 September, 4pm KSA to express their interest and request qualification for bidding in the latest round of football club privatization, with six clubs on offer, the Sports Ministry said in a statement (pdf)<\/a>. This is part of the second phase of a privatization program which was announced in December last year in a bid to drum up investment in the industry.<\/p>\n

What\u2019s on the table? <\/strong>Six football clubs are up for grabs by local and global investors: Al Zulfi, Al Nahda, Al Okhdood, Al Ansar, Al Orouba and Al Kholoud. <\/p>\n

More will be offered at a later stage: <\/strong>The second batch of the program\u2019s second phase will include Al Shoulla, Hajar, Al Najma, Al Riyadh, Al Rawda, Jeddah, Al Taraji and Al Sahel. Those clubs will be offered to investors.<\/p>\n

By the numbers: <\/strong>The ministry was said to be looking to raise some SAR 1.8 bn (c. USD 480<\/a><\/a>mn)<\/a> annually from this wave of privatization, given that the first phase helped rake in \u201csignificant commercial revenue growth\u201d for the Saudi Pro League.<\/p>\n

REMEMBER- <\/strong>The first phase of the program saw top football clubs Al Ittihad, Al Ahli, Al Nassr, and Al Hilal transferred to the PIF in June 2023 under the program launched by Crown Prince and Prime Minister Mohammed bin Salman. Under the plan, the four clubs were transformed into companies with the PIF holding a 75% stake, with the remaining 25% being up for grabs via their general assemblies. The first stage of the scheme helped the four clubs sign some of the world\u2019s top football stars (think Cristiano Ronaldo, Karim Benzema and others), with the league\u2019s clubs collectively spending almost USD 1 trn in last year\u2019s summer transfer window.<\/p>\n","protected":false},"excerpt":{"rendered":"

The ministry was said to be looking to raise some SAR 1.8 bn annually from this wave of privatization<\/p>\n","protected":false},"author":1,"featured_media":88471,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2996],"tags":[10,2995,8],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-88470","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-privatization-watch","tag-enterpriseam-ksa","tag-privatization-watch","tag-sports","wpautop","entry"],"acf":{"mongo_id":"f6233875-b117-421e-9e89-f2f49a67754f","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/8\/405.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Six football clubs are up for grabs by local, foreign investors in a new wave of privatization","related_issue":[88463],"teaser":"The ministry was said to be looking to raise some SAR 1.8 bn annually from this wave of privatization","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/8\/.1d367715-d8aa-4685-9014-500a214dd666.mp3"},"yoast_head":"\nA new wave - KSA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/ksa\/2024\/08\/06\/a-new-wave\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A new wave\" \/>\n<meta property=\"og:description\" content=\"The ministry was said to be looking to raise some SAR 1.8 bn annually from this wave of privatization\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/ksa\/2024\/08\/06\/a-new-wave\/\" \/>\n<meta property=\"og:site_name\" content=\"KSA\" \/>\n<meta property=\"article:published_time\" content=\"2024-08-06T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/405.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/08\/06\/a-new-wave\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/08\/06\/a-new-wave\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"A new wave\",\"datePublished\":\"2024-08-06T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/08\/06\/a-new-wave\/\"},\"wordCount\":298,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/08\/06\/a-new-wave\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/405.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EnterpriseAM KSA\",\"PRIVATIZATION WATCH\",\"sports\"],\"articleSection\":[\"PRIVATIZATION WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/08\/06\/a-new-wave\/\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/2024\/08\/06\/a-new-wave\/\",\"name\":\"A new wave - 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