DAMMAM: The bylaw for privatization of Saudi clubs will be issued shortly as a panel of experts are now putting final touches to it, said Prince Nawaf bin Faisal, head of the Youth Welfare Presidency.
鈥淧rivatization will bring about qualitative improvement to Saudi sports,鈥� the prince said while opening a sports investment forum here.
鈥淲e have signed an agreement with FIFA to seek its guidance for building world-class sports facilities,鈥� he said, adding that the forum would contribute to the privatization process. The law firms SNR Denton and Deloitte鈥檚 Sports Business Group, a unit of Deloitte & Touche, have been awarded a nine-month project to advise the presidency on the privatization project.
Together, they will complete a study and recommend an approach to privatize the main youth sports clubs and restructure the existing domestic professional soccer league. The study will be completed in two months.