• Loading stock data...
Friday, February 21, 2025

Saudis Poised To Make Another High-Profile Sports Move

  • An investment would follow recent cooperation and development agreement between Saudi Arabia and Confederation of African Football.
  • Saudi Arabia has actively sought to use sports investments to rehabilitate its image.
CAF

There’s another proposed “super league” in soccer poised to net a sizable financial boost — this time in Africa, courtesy of Saudi Arabia.

The Guardian reports the Confederation of African Football is in talks with Saudi Arabia on a $200 million deal to support the new African Super League, a move that also would theoretically aid the country in winning hosting rights for a future FIFA World Cup.

Somewhat mirroring the themes of the prior, ill-fated Super League proposal in Europe, the African tournament plans to offer $100 million in prizes, including $11.6 million for the winner — more than five times the top prize for the current CAF Champions League. 

CAF and FIFA announced plans for an African Super League last year. That effort, however, is now targeted to begin with the 2024-25 season — to coincide with the start of the Saudi sponsorship — in a reduced, eight-team format.

The Saudi involvement also builds on a recent, five-year cooperation and development agreement between the CAF and Saudi Arabian Football Foundation. CAF has been seeking firmer financial footing since the 2019 termination of a $1 billion rights agreement with Lagardére. 

The initiative also represents the latest attempt by Saudi Arabia — a country widely rebuked in global circles for its poor record on human rights — to use sports as a means to help boost its international standing. 

Saudi Arabia’s sovereign wealth fund is the lead backer of LIV Golf, another high-profile investment that has attracted controversy and debate. 

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

‘Shrinking Platform’: MLB, ESPN to Split After 35 Years

Manfred cites multiple issues with ESPN’s MLB coverage, business health.

NBA Dealt Major Blow With Wemby’s Season-Ending Blood Clot

The 21-year-old was named an All-Star this year.

MLS Begins Season With More Messi Mania, Apple Streaming Changes

Inter Miami is once again the betting favorite to win the MLS Cup.

Americans Bet $148 Billion on Sports in 2024, Up 23.6%

Both overall handle and revenue rose by more than 20% last year.

Featured Today

Nov 2, 2024; Pittsburgh, Pennsylvania, USA; Pittsburgh Penguins goaltender Alex Nedeljkovic (39) stretches during a time-out against the Pittsburgh Penguins in the second period at PPG Paints Arena

Behind the Mask: The Artists Creating Hockey’s Iconic Goalie Style

The art and business of outfitting pro netminders.
Feb 15, 2025; Montreal, Quebec, CAN; [Imagn Images direct customers only] Team United States forward Matthew Tkachuk (19) and Team Canada forward brandon Hagel (38) fight in the first period during a 4 Nations Face-Off ice hockey game at the Bell Centre.
February 16, 2025

Inside the Push for the NHL’s Next Era of International Competition

Players have been clamoring, and the league is all in.
Aug 11, 2024; Paris, France; Medals are carried out on Louis Vuitton trays after the women's volleyball gold medal match during the Paris 2024 Olympic Summer Games at South Paris Arena
February 16, 2025

LVMH’s New Push: World’s Most Powerful Luxury Group Is Coming for Sports

LVMH is making long-term deals—and they’re not done.
Feb 18, 2024; Indianapolis, Indiana, USA; Eastern Conference guard Damian Lillard (0) of the Milwaukee Bucks reacts after a play during the second half of the 73rd NBA All Star game at Gainbridge Fieldhouse.
February 15, 2025

The NBA’s Latest Attempt To Solve the All-Star Game Conundrum

A new mini-tournament on a lame-duck network may not solve the problem.

Tiger Woods Signs First PGA Tour Player to Wear Sun Day Red

Karl Vilips will wear Sun Day Red at his season debut at the Mexico Open.
Jul 30, 2022; Pasadena California, USA; Juventus forward forward Dusan Vlahovic (9) and Real Madrid forward Vinicius Jose Paixao (20) battle for the ball in the first half during an international friendly at the Rose Bowl.
February 14, 2025

‘Make Juventus Great Again’: Crypto Firm Tether Buys Stake in Soccer Club

Tether is just one of many crypto firms making sports investments.
Teammates embrace during matchup in The Hundred cricket league
February 15, 2025

Google, Microsoft, Adobe CEOs Buy Stakes in Cricket League

The England and Wales Cricket Board raised £520m by selling team stakes.
Sponsored

How UBS Crafts Impactful Partnerships Across Sports, Arts, and Culture

As UBS continues to expand its impressive array of sports and entertainment partnerships, the company solidifies its position as a leader in wealth management.
exclusive
December 5, 2024

Talor Gooch Using LIV Golf Fortune to Start Building Sports Empire

The golfer has made more than $43 million individually from LIV.
December 4, 2024

U.S. Firm Makes $310M Bet on Soccer by Forming Superagency

The U.S.-based investment company makes a significant play in international soccer.
November 13, 2024

Why Liberty Media Spun Off Assets, Shook Up Leadership

Longtime CEO Greg Maffei is stepping down at the end of the year.
Oct 27, 2024; Seattle, Washington, USA; Buffalo Bills quarterback Josh Allen (17) passes against the Seattle Seahawks during the second quarter at Lumen Field.
October 30, 2024

Buffalo Bills in Talks to Sell Stake to PE Firm Arctos: Report

Arctos already has a slice of Paris Saint-Germain and the PGA Tour, among other assets.