As they already did in the NBA, a league that brings together professional basketball teams in the US, now the Arabs could invest in Major League Soccer (MLS), which this year attracts attention with the landing of Lionel Messi at Inter Miami.
Don Garber, who serves as commissioner of the gringo soccer league, confirmed that the Board of Directors will have a meeting this week in Washington to review the issue.
According to information published by Bloomberg, Garber said that the MLS could open the doors to the capital of the Arabs and would follow in the footsteps of other sports lines in the country. In that sense, he mentioned that “The NHL (hockey) and the NBA have already considered having sovereign funds and pension funds.”
Interference grows
The same agency noted that a part of the state portfolios are increasing participation in sports events. For example, the Saudis, through the Public Investment Fund (PIF), own LIV Golf and Newcastle in England, the latter team well remembered by Colombians thanks to the passage of Faustino Asprilla between 1995 and 1998.
In addition, through that same vehicle they have considered buying another top-level soccer club in Europe, although the name is handled with secrecy. To exemplify this, you can imagine that the Colombian State will create an investment fund to buy shares or become members of renowned sports clubs.
Thus, Crown Prince Mohammed bin Salman has turned sport into a cornerstone to diversify the generation of wealth in Saudi Arabia and has also been an instrument to put his country on the radar of international tourists.
In fact, it is rumored that he wants to apply for his nation to host the 2030 Soccer World Cup and deepen the commitment he made by hiring two stars like Cristiano Ronaldo and Karim Benzema, both with mega millionaire contracts and whose figures attract an audience.
At one point, they wanted to take Messi to Al-Hilal, a Saudi club that offered the Argentine a deal that would have meant an income of about US$400 million per year. However, the legend preferred to go to the US and pocket close to US$150 million in two and a half years (see X-ray).
However, the Arabs still see a profitable opportunity in Messi and hence their interest in expanding investments in the sports field of the Americans.
It is worth mentioning that the Qatar Investment Authority, a neighboring country of the Saudis, bought a 5% stake in Monumental Sports & Entertainment, owner of the Washington Wizards, Mystics and Capitals. The deal, according to Bloomberg, valued the MSE at $4.05 billion, according to Sportico.
2023-07-17 11:26:40
#Arab #funds #invest #Lionel #Messis #league
