Saudi hires Jadwa Investment to advise on selling soccer clubs – sources
Late last year, the government approved plans to turn state-owned sports clubs into private companies
Saudi Arabia’s Jadwa Investment, one of the country’s largest privately owned investment bank, has been appointed to advise on the privatization of as many as five soccer clubs in the Saudi Professional League, sources told Reuters on Wednesday.
A request for proposals was sent to bankers last month, one of the sources said, declining to be named because the matter is not yet public.
A spokesperson for the government’s General Authority of Sports was not immediately available to comment.
Late last year, the government approved plans to turn state-owned sports clubs into private companies.
Also Read
-
Despite big names and lavish advertising, why are the Saudi and Gulf leagues underperforming?
Language and communication are essential when trying to gain popularity worldwide, not just the availability of talent and big names Sports -
The Arab Identity of the Saudi Professional League
The Saudi Professional League is doing a much better job at promoting local talent than the Arabian Gulf league Sports -
AFC moves Saudi-Iran Champions League ties to neutral venues
Twice Asian champions Al-Hilal, one of four Saudi teams in the competition’s group stage, said they had experienced problems playing in Iran in previous years Sports -
MBC to air Saudi football league, King Cup matches in $1 bln deal
The deal is worth four billion and 100 million Saudi Riyals Sports
