Qiddiya Investment Company announces 20-year partnership with Al-Nassr and Al-Hilal
Qiddiya Investment Company (QIC) has signed two partnerships with Riyadh-based football clubs Al-Nassr and Al-Hilal which will see both call a new 40,000-seater stadium their home.
The 20-year strategic partnership is valued at SR100 million ($26.7 million) per club per year making it the largest in the history of both clubs and one of the largest in the region, a statement said.
The partnership will run from 2022-2042 and will be subject to review every five years, it added.
The strategic partnership includes several benefits for both clubs as well as Qiddiya and will open new horizons in sports investment in Asia, specifically the Middle East.
Qiddiya’s planned cliff-top 40,000+ seat stadium, once complete, will become the new venue for home games for both teams.
The stadium is a flagship element of Qiddiya’s strategy to become a global centre of sporting excellence and its complex will include corporate hospitality lounges and VIP and VVIPs seats.
Qiddiya’s managing director, Abdullah bin Nasser Aldawood, said: “This strategic partnership is in line with Qiddiya’s strategy to contribute to the development of the wider sports industry in Saudi Arabia and is another important step towards our aim of building and developing Qiddiya as a formidable sports hub that is the home of local, regional and international competitions.
