Saudi Arabia’s Qiddiya Investment Company (QIC) has signed two 20-year strategic partnerships with Riyadh-based sports clubs Al-Nassr Football Club (FC) and Al-Hilal Saudi Football Club (SFC) valued at $26.6 million per club per year.
The pioneering partnership was formally signed between Qiddiya’s Managing Director, Mr. Abdullah bin Nasser Aldawood, Al-Nassr FC’s Chairman, Mr. Musalli AlMuammar, and Al-Hilal SFC’s Chairman, Mr. Fahad bin Nafal at a ceremony held at the Qiddiya Experience Center. Senior officials from the two giants of Saudi football also attended the ceremony.
The largest agreement in the history of both clubs and one of the largest in the region will run from 2022 to 2042 and will be subject to review every five years. Under this strategic partnership, both clubs will get several benefits, as well as Qiddiya will become the capital of entertainment, sports & culture with the opening of new horizons in sports investment in Asia.
Commenting on the partnership, Mr. Aldawood stated that “This strategic partnership is in line with Qiddiya’s strategy to contribute to the development of the wider sports industry in Saudi Arabia and is another important step towards our aim of building and developing Qiddiya as a formidable sports hub that is the home of local, regional and international competitions. There will be numerous benefits for the club including the use of our state-of-the-art facilities to train and become world champions across a wide range of sports in addition to football.”
Once completed, both clubs will get the benefits of Qiddiya’s cliff-top 40,000+ seater stadium. It will become the new venue for home games for both teams, with the full range of sporting facilities being developed within the stadium.
The stadium is a flagship element of Qiddiya’s strategy to become a global center of sporting excellence. As part of this strategy, its complex will include corporate hospitality lounges and VIP and VVIPs seats. Sports fans will be able to enjoy the amazing view of Qiddiya’s Resort Core from every seat to complement the quality of on-field action.
“Both Al-Nassr and Al Hilal are set to play their home games at Qiddiya’s world-class venues, including the incredible new cliff-top stadium, once construction is complete. The clubs’ fans will gain an entirely new experience as they will have access to the entertainment and sports facilities and venues around the Stadium. They will be inspired to pursue their own sporting dreams which will ultimately boost the sports industry’s contribution to the country’s GDP,” Mr. Aldawood added.
Qiddiya’s offering will be based on five cornerstones, including Parks & Attractions, Sports & Wellness, Arts & Culture, Motion & Mobility, and Nature & Environment, along with a variety of real estate options and community services. The stadium will be a key attraction of the Sports & Wellness cornerstone.