Sports Ministry kicks off 2nd phase of Sports Clubs Investment and Privatization Project

Logo of The Ministry of Sports

The Ministry of Sports launched, in coordination with the National Privatization Center, the second phase of the second track in the Sports Clubs Investment and Privatization Project today, July 3.

This came after the Cabinet's decision on July 2 to privatize 14 sports clubs of various grades.

This phase includes offering six sports clubs set for privatization to local and international investors, namely Al-Zulfi, Al-Nahda, Al-Okhdood, Al-Ansar, Al-Orouba, and Al-Kholood clubs.

Investors wishing to bid for these clubs can obtain the necessary requirements and information through the investor portal on the Privatization Center website, starting from next August, said the ministry.

It added that this will be followed by completing the offering of the remaining eight clubs in succession, namely Al-Shoulah, Hajer, Al-Najma, Al-Riyadh, Al-Rawda, Jeddah, Al-Taraji, and Al-Sahel.

The Sports Clubs Investment and Privatization Project was launched through two main tracks, the first entails approving the investment by companies and development entities in sports clubs in exchange for transferring ownership to them. This included eight clubs.

The second track includes offering a number of clubs for privatization. It began with registering the interested parties locally and internationally in this investment as a first phase of the track.