Saudi Soccer Billion Dollar Gamble: When Al-Hilal wanted to pay $1.1 billion for Kylian Mbappé, including $332 million to PSG and a $775 million salary for one year, critics called it “sports washing.”
Mbappé declined the offer in July, but Neymar Jr. accepted Al-Hilal’s offer a month later. Sources report that the Brazilian star transferred from PSG for approximately $98.5 million (90 million) plus add-ons.
Deloitte reports that SPL teams spent nearly $1 billion in a record transfer window, acquiring 94 foreign players from top European leagues.
Despite Saudi Arabia’s poor human rights record, its significant investment in the local soccer league demonstrates its commitment to achieving its objectives.
The country’s sovereign Public Investment Fund (PIF) has purchased Saudi clubs, attracting top sports names.
The SPL aims to enhance competition by attracting top players to the Gulf states. The league claims foreign players will develop “young Saudi talent.”
The government-run PIF increased the value of these four teams by nearly five times in the summer transfer window, per Transfermarkt. This made them the most valuable teams.
This summer, Saudi Crown Prince Mohammed bin Salman’s PIF bought four top sports teams in the country. Al-Hilal has won the national title 18 times, Al-Ittihad and Al-Nassr have each won 9 times, and Al-Ahli has won 3 times.
Many top players joined the SPL as soon as possible. Benzema joined Al-Ittihad after winning the 2022 Ballon d’Or.
As the European transfer window closed, PIF-owned teams spent nearly $900 million (835.1 million) on foreign players. Based on their spending on transfers, they ranked among the top 20 clubs globally, alongside elite soccer teams from England, France, Germany, Spain, and Italy.
Al Hilal spent over 353 million ($378 million), surpassing PSG and Arsenal. Al Hilal has spent the most money this year.
He won the Ballon d’Or 5 times. Saudi government sources claim Cristiano Ronaldo signed a two-year contract with Al-Nassr, earning approximately $200 million annually. He reaches more than any other athlete currently.
Currently, 21 of Saudi Arabia’s priciest soccer players play for a PIF-owned team. Based on trade costs. Everyone knows these stars.
The SPL won’t discuss financial risk despite high spending. Carlo Nohra, SPL’s COO, said disclosing player and coach salaries is not advantageous for the league.
In its latest report, the PIF stated it managed $777 billion in assets and aimed to reach $1 trillion soon. It acquired Newcastle United in 2021 and invested most of its funds domestically. Now, the club is one of the highest-paying ones for its players.
Even non-PIF-owned Saudi teams spend big on famous players. News sources report that Al-Ettifaq offered Jordan Henderson, former Liverpool captain, a staggering weekly wage of $870,000 (£700,000) as part of a $15 million (£12 million) move.
Henderson denied the numbers in a recent interview.
Simon Chadwick, a sports and world economy professor at SKEMA Business School, said the message was “We mean business.”
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“We have enough money to pay a player 700,000 [GB pounds] a week and still have Cristiano Ronaldo and look for other players,” Chadwick said of Saudi Arabia’s sports superpower plan. He said costs could reach sky-high.
Saudis love sports.
Saudi Arabia aims to become a sports powerhouse like China and Qatar, which have invested heavily in sports.
It’s still being determined if Saudi Arabia’s investments will have a lasting effect or if they’re just an expensive attempt to change the country’s image.
Saudi teams have won multiple Asian titles and participated in numerous World Cups. When Saudi Arabia defeated Argentina in the men’s World Cup last year, it was a significant surprise in the tournament’s history. Saudi Arabia’s King Salman bin Abdulaziz Al Saud granted a day off for celebrations.
Many Middle Easterners can play club games. For instance, around 40 to 60,000 people attend when Al-Ittihad plays Al-Hilal. Chadwick said, “This is the same size as when Chelsea plays Arsenal or Man United plays Man City.”
Kieran Maguire of “The Price of Football” podcast says it’s easy for Saudi teams to win by buying star players, even if some are past their prime.
From the Saudi government’s perspective, they receive a pre-existing item. Benzema is a well-known name. Maguire replied, “Everyone knows Cristiano Ronaldo, etc.”
Our Reader’s Queries
What soccer player got a billion dollar contract?
Kylian Mbappé, the French football sensation, is currently earning a whopping $90 million while playing for Paris Saint-Germain. Despite rumors of a $1 billion offer from Saudi Pro League team Al Hilal, which included the transfer fee, Mbappé has chosen to stay with his current team for the time being. His talent and skill on the field have made him a valuable asset, with a market value of $110 million.
Which soccer player got 800 million dollars?
During his illustrious career as a soccer player, Beckham amassed a staggering fortune of around $800 million. His name is synonymous with the sport, and he is widely regarded as one of the greatest players of all time. Beckham’s talent and dedication to the game have earned him a place in the annals of soccer history, and his legacy continues to inspire aspiring players around the world.
Why Saudi Arabia is investing hundreds of millions of dollars in soccer?
Investing billions of dollars in sports is a crucial component of Vision 2030, a continuous initiative led by Crown Prince Mohammed bin Salman to reduce his country’s reliance on oil and establish its position on the global platform.
Who is the highest paid player in Saudi League?
The Saudi Pro League’s top 10 earners (as of 11/01/24) are dominated by some of the biggest names in football. Cristiano Ronaldo leads the pack, followed closely by Karim Benzema and Neymar. These players are among the highest-paid athletes in the world, and their salaries reflect their exceptional talent and skill on the field. It’s no surprise that they’ve found success in the Saudi Pro League, where they continue to dominate and earn top dollar for their efforts.