Saudi Arabia’s Sports Sector Gets a Major Boost with Ownership Transfer of Diriyah Sports Club
In a groundbreaking move, ownership of Diriyah Sports Club has been transferred from the Ministry of Sport to Diriyah Co., a firm owned by the Public Investment Fund. This transfer signals a major boost for Saudi Arabia’s sports sector.
Crown Prince Mohammed bin Salman Leads the Way
Crown Prince Mohammed bin Salman, who serves as chairman of the PIF company’s board of directors, has given his approval for the formation of Diriyah Sports Club’s board. Prince Khalid bin Saud will chair the board, with members including Jerry Inzerillo, Mohammed Al-Khreiji, Ayman Al-Fallaj, and Hamad Al-Bati.
Strategic Goals for Diriyah as a Premier Destination
The strategic goals behind these moves are to develop and enhance Diriyah as a premier cultural, tourist, entertainment, and sports destination. This initiative also aims to empower the private sector to take on a more significant role in the sports field, in line with the goals of Saudi Vision 2030.
A New Vision for Diriyah Sports Club
Jerry Inzerill, group CEO of Diriyah Gate Development Authority, expressed excitement about the transfer of ownership, stating that it will enable the organization to invest in the development of facilities and talent. The goal is to create world-class athletic services and infrastructure to support athletes in reaching new levels of competition.
Promoting Wellness and Inclusive Sports Participation
Inzerillo emphasized that this initiative aims to expand the audience and fan base of Diriyah Sports Club, encouraging youth and casual players to aspire to higher levels of competition. These efforts align with Vision 2030’s objectives of promoting wellness, well-being, and inclusive sports participation across all age groups and skill levels.
A Strategic Initiative for Saudi Arabia’s Sports Industry
This ownership transfer is part of the Sports Clubs Investment and Privatization Project, announced by the Crown Prince in June 2023. The project, in collaboration with the National Privatization Center, seeks to accelerate the development of Saudi Arabia’s sports industry by involving the business sector with clubs.
Diriyah Club’s Future in the Saudi Second Division League
Founded in 1976, Diriyah Club is gearing up to compete in the Saudi Second Division League for the upcoming 2024/2025 sports season. The club has been assigned to Group 2 by the Saudi Arabian Football Federation, marking an exciting new chapter for the team.