Saudi Arabia is hoping to attract private equity investment as part of a push to enhance the status and global profile of its top domestic football competition, The Saudi Pro League, according to a report by Bloomberg.
Last month, Saudi Arabia’s $700 billion PIF wealth fund and state oil firm Aramco took control of several Pro League clubs with the aim of improving team brands and revenues and then selling stakes to investors including global private equity firms to benefit from their sporting expertise, according to one source.
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Already the league has seen an influx of star players from Europe including Real Madrid’s Karim Benzema and Chelsea’s Kalidou Koulibaly who have joined Portuguese superstar Christiano Ronaldo in Saudi Arabia. And the report cites unnamed sources familiar with the matter as confirming that the Pro League is also discussing the option of new broadcast deals and partnerships with private equity companies to grow the competition’s appeal.
Source: Private Equity Wire
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