Saudi makes a statement of intent with sports investment deluge: Can money alone guarantee success?
IMAGO | Ballon d'or winner Benzema has signed with Saudi Club Al-Ittihad
Last week’s Saudi-backed proposed merger between the PGA Tour and LIV Golf creates a seismic shift in global sports and sends a powerful message to the sports world, including football.
From the takeover of Newcastle, via the signings of Ronaldo and Benzema, a putative World Cup bid and major state-backed investment in Saudi clubs, the Kingdom has created shockwaves in football.
Why it matters: Saudi Arabia aims to increase its influence in global sports and project soft power through extensive investments. Recent developments suggest it is starting to become a key player.
The perspective: The ultimate test of Saudi Arabia's investments will be the development of a sports culture where Saudis excel organically, rather than relying solely on financial power.
9 June 2023 - 3:39 PM
The announcement had nothing to directly do with football, but it gave a definitive vision of what may lie store for all of sport.
When the story broke on Canadian broadcaster CNBC last Tuesday afternoon that golf’s PGA Tour had agreed to merge with rival LIV Golf it felt like as if there was a shifting of tectonic plates across global sport.
LIV Golf is a rebel golf tour backed to the tune of hundreds of mill
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