Business
Saudi spending in transfer window second only to Premier League
Published
1 year agoon
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AFP
Saudi Pro League (SPL) clubs have splurged $957 million on players in the close season transfer window, according to analysis from Deloitte published on Friday.
Saudi clubs’ spend in the transfer window, which closed on September 7, exceeded the spending of four of Europe’s ‘big five’ leagues with only the Premier League ahead of the Middle Eastern nation.
“This marks the first time since 2016 that another international league has outspent any of Europe’s ‘big five’ during a football transfer window…,” said Izzy Wray of Deloitte’s Sports Business Group.
“European football continues to be the benchmark for the game globally, and the Saudi investment in the game will divert its focus towards the infrastructure, to elevate the level of Asian football.”
Earlier this year, the Saudi Public Investment Fund (PIF) announced a Sports Clubs Investment and Privatization Project involving the league champions Al-Ittihad, Al-Ahli, Al-Nassr and Al-Hilal, with a host of top players moving to the league.
PIF own 75 per cent of each of the four clubs, while their respective non-profit foundations own 25 per cent of each.
This window’s biggest transfer move came from the most successful club in Saudi Arabia, Al-Hilal, who spent 90 million euros to bring in Brazil star Neymar from Paris St Germain.
In addition to Neymar, Al-Hilal also spent big money to sign Aleksandar Mitrovic, Kalidou Koulibaly, Ruben Neves and Sergej Milinkovic-Savic.
Saudi Pro League champions Al-Ittihad signed Karim Benzema, N’Golo Kante and Fabinho, while Cristiano Ronaldo’s Al-Nassr splashed out on Otavio, Sadio Mane, Aymeric Laporte, Marcelo Brozovic and Alex Telles.
Al-Ahli, who returned to the Pro League following a season in the second division, also completed a string of signings including Gabri Veiga, Riyad Mahrez, Roberto Firmino, Edouard Mendy, Alain Saint-Maximin and Merih Demiral.
“The implementation of the Kingdom’s privatisation programme is likely to draw a wave of interest around the SPL, potentially fueling the current spending pattern for the windows to come,” Wray said.
“With the spending power of the SPL already surpassing some of Europe’s ‘big five’, it remains to be seen the impact this will have on the make-up of elite football for future generations.”
For all its expenditure, the SPL still missed out on some of its biggest targets.
Liverpool’s Mohamed Salah was a target for Al-Ittihad, who reportedly had a bid worth 150 million pounds ($187.10 million) turned down by the Premier League club, while ambitious bids from Al-Hilal for Lionel Messi and Kylian Mbappe failed to materialise.
Saudi Arabia has made massive investments in football, Formula One, boxing, tennis and golf in recent years.
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Announcements
Zimbabwe Partners with T Ten Global to Boost Business Opportunities
Published
1 day agoon
November 21, 2024The Government of Zimbabwe has entered into a strategic partnership with T Ten Global Sports to enhance the nation’s global profile and attract significant foreign investment. This initiative aligns with President Emmerson Mnangagwa’s vision of showcasing Zimbabwe as ‘Open for Business’ and leverages international platforms to highlight the country’s substantial economic potential.
With a viewership exceeding 500 million on television and OTT platforms, and a social media reach of 2.5 billion across 100 countries, T Ten’s cricket leagues offer Zimbabwe an unparalleled opportunity to promote its investment prospects. The partnership will officially be launched at the 2024 Abu Dhabi T10 in Abu Dhabi, positioning Zimbabwe as a premier destination for international business.
Speaking on the partnership, Zimbabwe President Emmerson Mnangagwa said, “Zimbabwe is open for business, and this partnership with T Ten Global Sports is a testament to our commitment to engaging with the world. Through T Ten’s extensive reach, we will showcase Zimbabwe as a thriving hub for investment and innovation. This collaboration marks a significant step forward in building our nation’s global reputation and economic future.”
Under President Mnangagwa’s leadership, Zimbabwe has experienced notable economic growth. In 2023, Zimbabwe’s GDP was valued at $26.54 billion, reflecting a 4.5% growth rate from the previous year. The nation has also attracted significant investments across various sectors including the beverage industry, mining sector, real estate and infrastructure, renewable energy and agriculture modernization.
Varun Beverages, the bottling partner of PepsiCo, has invested over $40 million, creating employment opportunities and bolstering the manufacturing sector. Zimbabwe is endowed with vast mineral resources, including lithium, platinum, gold, and diamonds. Investments from companies such as Zhejiang Huayou Cobalt and Prospect Resources are positioning Zimbabwe as a key player in the global green energy revolution.
UAE-based conglomerate Mulk International is developing the $500 million Zim Cyber City in Mount Hampden, Harare. This state-of-the-art mixed-use development is set to transform Zimbabwe’s real estate landscape, offering high-end residential and commercial spaces. Collaborations with international firms are underway to harness Zimbabwe’s abundant solar and hydropower resources, supporting sustainable energy solutions and reducing reliance on non-renewable sources. Partnerships with global agribusinesses have enhanced Zimbabwe’s agricultural output, ensuring food security and creating export opportunities.
Shaji Ul Mulk, Chairman of T Ten Global Sports further said, “We are honored to partner with Zimbabwe to deliver this transformative vision. Through T Ten’s five global leagues, we will ensure that Zimbabwe’s message reaches key markets, connecting the nation with influential investors and creating new opportunities for growth and collaboration.”
There are numerous unparalleled opportunities for global investors in Zimbabwe across various sectors. The country is home to vast reserves of lithium, platinum, gold, nickel, and rare earth minerals, essential for the global renewable energy and technology industries. With a growing industrial base and favorable policies, Zimbabwe provides opportunities in food processing, automotive assembly, and consumer goods production.
Abundant sunshine and river systems make Zimbabwe ideal for large-scale solar and hydropower projects, attracting renewable energy investors globally. Rapid urbanization and modernization efforts create lucrative opportunities in construction, transport, and logistics.
Paul Tungwarara, Special Presidential Investment Advisor, UAE further said, “This partnership reflects Zimbabwe’s forward-looking strategy for international outreach. By leveraging T Ten’s global media presence, we will amplify the message that Zimbabwe is ready for business and global partnerships. It has been a privilege to contribute to this historic initiative.”
Through its collaboration with T Ten Global, Zimbabwe will gain exposure across the five cricket leagues’ (Abu Dhabi T10, US Masters T10, Lanka T10 Super League, African T10, Sri Lanka T10) influential markets. It allows the nation to engage audiences in the Middle East and Asia, and also target North America’s business leaders. The partnership further helps Zimbabwe in strengthening their presence in South Asia’s thriving markets and highlighting Zimbabwe’s leadership in Africa.
This partnership represents a bold step toward economic reform, global engagement, and solidifying Zimbabwe’s position as a premier investment destination.
Jaffna Titans and Hambantota Bangla Tigers will lock horns with each other in the first match of the Lanka T10 Super League 2024.
11th November, 2024: The inaugural edition of the Lanka T10 Super League 2024 is all set to begin on 11th December, 2024 in Kandy and the cricket carnival will kickstart with the opening ceremony ahead of the first game between Jaffna Titans and Hambantota Bangla Tigers.
The competition will see six franchises, Jaffna Titans, Hambantota Banga Tigers, Colombo Jaguars, Nuwara Eliya Kings, Kandy Bolts and Team Galle Marvels up against each other in a round-robin format.
The Qualifiers and the Eliminator matches are scheduled to be played on 18th December, 2024. Team 1 will lock horns with Team 2 in Qualifier 1, Team 3 will face Team 4 in the Eliminator match while the Qualifier 2 will see the runner up of the Qualifier 1 play the Winner of Eliminator.
The title clash will be played between the Winner of Qualifier 1 and Winner of Qualifier 2 on 19th December, 2024 and will be followed by the closing ceremony.
Note to Editor:
The Lanka T10 Super League is an exhilarating 10-over cricket format, proudly organized and endorsed by Sri Lanka Cricket in collaboration with a consortium of industry leaders: T Ten Sports Management FZC (TSM), T Ten Global Sports FZE (TGS), and Innovative Production Group (IPG). Together, they are shaping the future of T10 cricket in Sri Lanka.
Announcements
Bollywood singer Vishal Mishra set to perform live at Coca-Cola Arena
Published
1 week agoon
November 14, 2024Bollywood’s award-winning playback singer and composer Vishal Mishra is all set to make his electrifying debut at Dubai’s iconic Coca-Cola Arena on November 22. Fans in the UAE are gearing up for an unforgettable evening as the maestro takes the stage to perform his chart-topping hits live for the first time in the city.
Renowned for his soulful voice and a discography brimming with heartfelt melodies, Vishal Mishra has left an indelible mark on the Indian music scene. From chartbusters like “Pehla Pyaar” and “Zihal e Miskin” Vishal’s music has captured hearts worldwide. His signature blend of melody and emotion, combined with his ability to connect deeply with audiences, promises a concert that will be nothing short of magical.
Speaking about the upcoming concert, the 32-year-old star who rose to fame with the hit song “Kaise Hua” from Kabir Singh, shared his excitement: “Performing in Dubai is always like a dream, and I am thrilled to finally connect with my fans here at the Coca-Cola Arena. Music has the power to unite people, and I can’t wait to share this unforgettable experience with everyone. I promise it will be a night filled with love, energy, and pure magic.”
A Night to Remember:
The Coca-Cola Arena, one of Dubai’s premier entertainment venues, will set the stage for this extraordinary event. Known for its state-of-the-art acoustics and vibrant atmosphere, the arena will provide the perfect setting for Vishal Mishra to bring his music to life, offering fans a front-row seat to the essence of Bollywood’s musical brilliance.
Attendees can look forward to an intimate yet high-energy experience, as Vishal performs his Bollywood Chartbusters like “Pehle Bhi Main” from movie ‘Animal’, Oscar award winning “Nacho Nacho” from Movie RRR and fan favourites such as Zihal-e-miskin, Aaj Bhi and Manjha.
With fans across the region eagerly awaiting this event, tickets are already selling fast. Whether you’re a long-time admirer of Vishal’s music or only discovering his artistry for the first time, this concert promises a night to remember for all.
Event Details:
Date: 22nd November 2024
Venue: Coca-Cola Arena, Dubai
Tickets: https://dubai.platinumlist.net/event-tickets/94400/vishal-mishtra-live-in-coca-cola-arena-dubai