Saudi Ministry launches tender for privatizing six sports clubs

TDT | Manama

The Daily Tribune - www.newsofbahrain.com   

Report by Hussain Almaskati

The Saudi Ministry of Sport, in partnership with the National Center for Privatization (NCP) & PPP, has officially announced the tendering phase for the privatization of six sports clubs.

This initiative is a key component of the broader sports investment and privatization project introduced by the Crown Prince, aligning with the objectives of Saudi Vision 2030.

The six clubs entering this privatization phase are Alzulfi, Alnahda, Alokhdood, Alansar, Alorouba, and Alkholoud.

This announcement follows a previous update about the second phase of the Sports Clubs Investment and Privatization Project, which involves the privatization of 14 clubs in total, as approved by the Council of Ministers.

The privatization process will unfold in multiple stages, starting with the submission of expressions of interest (EOI) and requests for qualification (RFQ) by investors via the NCP’s “Investors Portal.”

Applications will be accepted until 4:00 PM on September 19, 2024. This will be followed by the evaluation of submissions, the launch of financial and technical offers, and formal negotiations.

This move is designed to involve the private sector in the development and growth of the sports industry, enhancing the capabilities of national teams, clubs, and sports practitioners.

It reflects Saudi Arabia’s commitment to advancing its sports sector as part of Vision 2030, fostering collaboration between public and private entities to strengthen the national economy and create lasting impact.

This announcement opens up exciting opportunities for investors looking to make a mark in the sports sector, supporting the Kingdom’s ambitious goals and contributing to its evolving sports landscape.