Saudi Arabia's Crown Prince Mohammed bin Salman has launched a new project aiming to boost their league and turn the Saudi top flight into a destination for top talent.
The Sports Clubs Investment and Privatisation Project aims to build up the overall sports sector in the Gulf nation, with private investment to help contribute towards the development of football and other sports in the country.
The project will allow investment from major companies in teams and organisations across the kingdom, with investment opportunities in sports clubs to be offered in the last quarter of this year.
One of the project's main aims is to establish the Saudi Professional League as one of the top 10 leagues in world football and increase the revenue of the league from 450 million SAR ($120 million) to more than 1.8 billion SAR ($480 million) annually.
The kingdom aims to raise the market value of the Saudi Professional League from SAR 3 billion ($800 million) to more than SAR 8 billion ($2.1 billion).
On Sunday, Saudi state broadcaster Al Ekhbariya reported that the Saudi Pro League champions Al Ittihad are expected to sign Karim Benzema on a two-year deal from Real Madrid.
Ronaldo's deal with Saudi Arabia is reported to be worth more than $200 million a year. Argentina star Lionel Messi is also said to be close to be moving to Al Hilal in the kingdom.
All Blacks line-up for third Test
J Barrett; I Dagg, A Lienert-Brown, N Laumape, J Savea; B Barrett, A Smith; J Moody, C Taylor, O Franks, B Retallick, S Whitelock, J Kaino, S Cane, K Read (capt).
Replacements: N Harris, W Crockett, C Faumuina, S Barrett, A Savea, TJ Perenara, A Cruden, M Fekitoa.
Tips on buying property during a pandemic
Islay Robinson, group chief executive of mortgage broker Enness Global, offers his advice on buying property in today's market.
While many have been quick to call a market collapse, this simply isn’t what we’re seeing on the ground. Many pockets of the global property market, including London and the UAE, continue to be compelling locations to invest in real estate.
While an air of uncertainty remains, the outlook is far better than anyone could have predicted. However, it is still important to consider the wider threat posed by Covid-19 when buying bricks and mortar.
Anything with outside space, gardens and private entrances is a must and these property features will see your investment keep its value should the pandemic drag on. In contrast, flats and particularly high-rise developments are falling in popularity and investors should avoid them at all costs.
Attractive investment property can be hard to find amid strong demand and heightened buyer activity. When you do find one, be prepared to move hard and fast to secure it. If you have your finances in order, this shouldn’t be an issue.
Lenders continue to lend and rates remain at an all-time low, so utilise this. There is no point in tying up cash when you can keep this liquidity to maximise other opportunities.
Keep your head and, as always when investing, take the long-term view. External factors such as coronavirus or Brexit will present challenges in the short-term, but the long-term outlook remains strong.
Finally, keep an eye on your currency. Whenever currency fluctuations favour foreign buyers, you can bet that demand will increase, as they act to secure what is essentially a discounted property.
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