Football: Saudi Arabia reshaping the market with inordinate financial allure

Five-time Ballon d’Or winner Cristiano Ronaldo raised many an eyebrow when he moved to Saudi club Al Nassr in January. At the time, and indeed up until the remainder of the season, the focus had been on the 38 year old’s individual performances, which have been decent, 14 goals in 16 matches is nothing to sniff at.

As the season came to a close across Europe, an increasing number of players were linked to Saudi clubs and now it is clear Ronaldo was not a one off, the Saudi’s are serious about making their mark.

Cristiano Ronaldo still have his dribbling skills at 38 yrs.

He did his best for Al Nassr pic.twitter.com/TJjiQ1HYlQ

— Jordan (@Jordan376824065) June 17, 2023

Arguably the best center forward over the past five years by 35-year-old Karim Benzema has joined Al-Ittihad. He has recently been joined at the club by 32-year-old N’Golo Kanté, who despite being dogged by injuries over the past two years remains one of the world’s best ball winning midfielders when fit.

Foreigners in Saudi prior to Ronaldo’s arrival largely consisted of Latin American veterans and the aforementioned, whilst still elite players, are past their prime. However, the financial attraction of the Saudi Pro League appears to be turning the heads of top players at the peak of their powers.

Wolverhampton Wanderers captain and Portugal international midfielder Ruben Neves appears on the verge of a move to Al Hilal, whilst Chelsea winger Hakim Ziyech appears close to a move to Al Nassr.

The wave of Saudi money has been welcomed by Chelsea, as they attempt to offload a large number of players on high wages. Until the Saudi’s entered the fra, only other Premier League and a small handful of wealthy European clubs could afford to take on players earning vast sums.

The direction of the Saudi Pro League

The Saudi Pro League is currently ranked 58th best league worldwide. For context the Scottish Premier League is 48th and Serie C (the Italian third tier) is 68th.

This is far from the first time a low quality league has attempted to propel itself upwards through big spending. During the mid to late 70’s the North American Soccer League hoovered up the world most talented players, largely in the twilight of their careers, including Pelé, Franz Beckenbauer, Carlos Alberto, Johan Cruyff, Johan Neeskens, Gerd Müller, Bobby Moore, Eusébio and George Best.

During the 2010’s the Chinese Super League attempted a similar raid, to less impressive effect. The likes of Hulk, Marko Arnautovic, Jackson Martinez, Ramires, Gervinho, Graziano Pelle, Oscar, John Obi Mikel and Paulinho were undoubtedly coups at the time but they do not compare to the Saudi level of investment.

The windfall for Saudi clubs stems from the Public Investment Fund (PIF), which will own 75% of Al Ittihad, Al Ahli, Al Nassr, and Al Hilal, following a report by state news agency SPA that Saudi Arabia will privatize several sports clubs from the fourth quarter.

As part of today’s announcement of the Sports Clubs Investment and Privatization Project, four Saudi clubs – Al Ittihad, Al Ahli, Al Nassr, and Al Hilal – have been transformed into companies, each of which is owned by #PIF and non-profit foundations for each club. pic.twitter.com/TNZcbIniUE

— Public Investment Fund (@PIF_en) June 5, 2023

Sports is one of the pillars of the government’s Vision 2030 economic diversification plan that seeks to build new industries and create jobs – and PIF is at the center of that scheme.

The privatization plan, mainly focused on football clubs and launched by Saudi Crown Prince Mohammed bin Salman, allows companies and development agencies to invest in and take over clubs, according to Al Jazeera.

Whatever the future holds, the Saudi’s do appear more invested and motivated than the Chinese were. They also have the advantage of enthusiastic fans and a more developed football culture than the Chinese and probably the Americans during the 1970’s.

Unlike the Premier League and other European teams, Saudi clubs are not bound by UEFA’s rules on spending, meaning there is no limit to the salaries. It seems the current bout of spending is just the beginning.

source:
TVP World, Al Jazeera