The Charger Account

Emerging from obscurity to becoming a global sports powerhouse is no small feat. For Saudi Arabia, the key is a bold, multi-faceted strategy backed by billions of dollars from the Kingdom’s Public Investment Fund (PIF) which has made the country into a  formidable player in the global sports industry. 

Saudi Arabia’s expansion into international sports is central to Crown Prince Mohammed bin Salman’s (MBS) Vision 2030, a sweeping reform plan launched in 2016 to diversify the country’s oil-dependent economy while scaling its global influence. Soccer has taken center stage, with the Kingdom’s PIF acquiring Premier League club Newcastle United in 2021 after a lengthy legal dispute. Since the takeover, the club has spent an estimated $504 million on player transfers, which would be even higher were it not for the Premier League’s strict financial regulations. 

Domestically, Saudi Arabia has worked to revitalize the Saudi Pro League, which struggled to attract a significant international audience despite the national team’s consistent World Cup qualification. This changed dramatically in January 2023 when Pro League club Al Nassr signed global superstar Cristiano Ronaldo from Manchester United. The deal—reportedly worth $220 million annually—has increased the league’s revenue by 650 percent.