Saudi Arabia has launched a new online licensing platform allowing global investors to fully own clubs, academies and centres for 27 sports.
The kingdom is looking to attract foreign investment and boost collaboration in its rapidly growing sports market – the Saudi Arabian sports economy has grown 174 percent in the last three years alone and its contribution to GDP has increased by 22 percent.
NAFES, launched by the Ministry of Sport in line with the kingdom’s Vision 2030 development plan, aims to attract private investment to help increase the number of clubs, academies and centres in the kingdom, ultimately contributing to the country’s economy.
“We are inviting the world to partner with us on our journey of sporting transformation. Our country’s incredible passion for sport is well known and, as more get active and take up sport, the economic opportunity is exciting,” said Saudi Arabian Sports Minister Prince Abdulaziz bin Turki Al Faisal.
“NAFES is our invitation to overseas partners to drive our sporting investment to the next level and to collaborate across our sports clubs, academies and centres. It is a turning point for the kingdom’s sports sector. Our message to investors and the private sector both in Saudi Arabia and across the globe is direct and clear – establish your clubs, compete and draw the future path of Saudi sports investment,” he said.
The Vision 2030 plan includes a quality of life sports programme that has driven record levels of participation and provided increased access, facilities and governance to sports.
The investments have resulted in a 37 percent growth in Saudis participating in weekly sport between 2015 and 2019, alongside a 149 percent increase in women and girls exercising during the same time period. While during the coronavirus pandemic, over four million people enjoyed at-home fitness classes as part of the ‘Baytak Nadeek’ initiative.
Historically, the Saudi sports industry was wholly reliant on government funds and support to operate. It is hoped that the introduction of the private sector will accelerate the growth of the industry and increase the volume of sports facilities, clubs and coaches.
The sports being offered for ownership via NAFES include football, basketball, swimming, equestrian, tennis, electronic sports, gymnastics, cycling and combat sports.
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