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Thu 3 Jan 2019 06:23 PM

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Plan to privatise Saudi Arabia's football clubs faces delay

Head of the Saudi Football Federation says privatisation might happen beyond the targeted 2020

Plan to privatise Saudi Arabia's football clubs faces delay
Jadwa Investment has been appointed to advise on the privatisation of up to five football clubs in the Saudi Professional League, in which Al Hilal are reigning champions.

A plan to privatise Saudi Arabia's football clubs could be delayed beyond the targeted 2020, according to a senior official.

Qusai al-Fawaz, the head of the country's football federation, told Reuters he could not give an exact date for the initial tranche of privatisations.

The privatisation of football clubs has been earmarked as an early candidate in a drive to privatise state-linked assets, Reuters said.

"Privatisation is the long-term plan," he was quoted as saying. "I don't have an exact time for this. I don't know whether it will be 2020 or 2022 until the plan is ready."

Fawaz said the kingdom expected to draw up a blueprint for the privatisation of football clubs in the coming months.

"Nothing is seriously happening so far but we expect the privatisation of clubs will move very quickly in the upcoming months," he told Reuters. "We will pass a very comprehensive plan on how to move forward."

Reuters said Jadwa Investment has been appointed to advise on the privatisation of up to five football clubs in the Saudi Professional League, in which Al Hilal are reigning champions.

The move is part of plans to make the Saudi Professional League one of the top 10 football leagues in the world.

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