Well-informed sources affirmed that Saudi Arabia plans to pay for new sports stadiums in Greece and Egypt and intends to stage three-quarters of all fixtures if it wins hosting duties for the 2030 FIFA World Cup.
The sources reported that Saudi Arabia is prepared to ‘fully underwrite the costs’ of hosting for its two Mediterranean partners on the proviso that 75 per cent of the 48-team tournament would be held in the Gulf state.
The dramatic offer — likely worth billions of euros in construction costs — was discussed in a private conversation between Mohammed bin Salman, the de facto ruler of Saudi Arabia, and Greek Prime Minister Kyriakos Mitsotakis, in summer 2022, according to the sources familiar with the matter.
This came as the Saudi PIF, a giant $600 billion sovereign wealth fund, had committed more than $2 billion to sponsorship deals over the first eight months of 2022, most of which was directed toward domestic soccer competitions.
The Saudi public debt has notably increased over the past years since MBS came to power. In 2017, the public debt was $118.2 billion, including $49 billion external public debt.
In 2018, the public debt increased to reach $149.3 billion, including $68 billion external public debt.
The public debt reached $180.8 billion in 2019, including $81.4 billion external public debt, and $227.6 billion in 2020, including 93.6 billion external public debt
In 2021, the public debt reached $250.7 billion, including $101.1 billion external public debt, while the public debt reached $255.6 billion, including $101.1 billion external public debt.
Media sources earlier revealed that the oil-rich nation has spent billions of dollars aiming to rebrand itself as the Middle East’s newest sports and tourism hub—an effort known as Vision 2030 that is receiving harsh scrutiny from human-rights advocates and forcing some in the sports world to make hard choices.
The sources went on saying that Saudi authorities want “to reposition KSA as a tourism and leisure hub to pivot the economy away from oil. But tourism and torture don’t mix.”
MBS has been racing to sportwash his poor human rights record, dramatically hit after the killing of the US-Saudi journalist Jamal Khashoggi and Saudi citizen Abdul Rahim Al-Hwaiti.
After months of debate, the Portuguese soccer star Cristiano Ronaldo has joined Saudi Arabian club Al-Nassr on a two-year contract. According to reports, Ronaldo will receive £172.9 million-a-year through 2025 as part of the deal.
Much like with Formula One and professional golf, the world’s biggest oil exporter has in recent years leveraged its immense wealth to assert itself on the eSports stage, hosting glitzy conferences and snapping up established tournament organisers, the report said.
In January, the kingdom’s sovereign wealth fund launched the Savvy Gaming Group, which acquired top eSports firms ESL Gaming and FACEIT in deals reportedly worth a total of $1.5 billion.
The Riyadh-based Public Investment Fund also acquired more than $3 billion worth of stock in three US video-game makers during the fourth quarter, according to a regulatory filing. They include Activision Blizzard Inc., Electronic Arts Inc. and Take-Two Interactive So
In 2022, the World Cup champion Lionel Messi becomes a paid partner of Visit Saudi, a subsidiary of the country’s tourism authority, and an ambassador promoting the country’s 2030 Vision amid human rights concerns. Messi is also expected to play a role in Saudi Arabia’s bid to host the 2030 World Cup.
