How Saudi clubs are disrupting European football
Public Investment Fund (PIF) is co-ordinating the acquisition of players based in Europe, of whom it aims to place at least three at each of these clubs. Four state-owned entities have invested in another four teams. The PIF argues that its involvement in football is part of a broader project to diversify the Saudi economy away from oil and to promote physical activity among citizens.
In 2021 it bought an English Premier League club, Newcastle United, and Saudi Arabia is widely expected to bid to host the World Cup in 2030, perhaps as the dominant partner in a joint bid. Critics see the government’s investments in football, as well as in boxing, Formula One and golf, as an attempt to draw attention away from its dismal human-rights record. For wealthy European clubs, second-tier leagues in far-flung destinations have been relatively unimportant.
They offer lucrative places to tour and suitable employers onto whom to offload fading stars on high-wage contracts. The transfer of Cristiano Ronaldo to Al-Nassr in late 2022 was greeted with a sigh of relief in the red half of Manchester. Chelsea have trimmed their bloated roster by selling three squad players to Saudi clubs.
The wages on offer in the Middle East far exceed those on offer in the Premier League. Mr Ronaldo’s salary, including commercial agreements, is reportedly $200m per year. It appears, though, that the PIF’s ambitions extend further than taking Europe’s cast-offs.
The most interesting signing so far this summer is that of a 26-year-old Portuguese midfielder, Rúben Neves. He moved from a mid-table Premier League team, Wolverhampton Wanderers, to Al-Hilal. Mr Neves, who was the club captain and has been a regular with the Portuguese national team, is entering
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