Jordan explores privatisation of football clubs
Jordan has set up a committee to study and draft regulations for the privatisation of football clubs.
The move will encourage private sector investment and advance the government’s initiative to develop the country’s sports sector, the Jordan News Agency reported, quoting youth minister Raed Adwan.
The committee has underscored the need to empower clubs, implement financial and administrative governance, examine optimal privatisation models, and develop the required legislation.
They will also work on amending the Clubs and Youth Entities regulation and set standards governing sports activities in clubs, the report said.
No details were given on the number of clubs likely to be privatised.
The top league clubs in Jordan include Al-Faisaly, Al-Wehdat, Al-Hussein and Al-Ramtha.
Further reading:
- American football belatedly sets sights on the Gulf
- Gulf sports have the money, but not the sponsors
- Moroccan World Cup stadium builder plans float
In August Saudi Arabia’s ministry of sport, in collaboration with the kingdom’s National Center for Privatization & PPP, put Al Najma and Al Okhdood up for sale as part of the country’s ongoing efforts to attract private investment into football.
Under the privatisation drive, which began last year, several Saudi clubs, including top-tier teams, have transitioned to ownership models backed by sovereign wealth entities or private investors.
In July, Al-Kholood Club was sold to a US-based venture capital company, Harburg Group. Al-Zulfi Club and Al-Ansar Club have been bought by Saudi-based Nojoom Al-Salam Company and Oudah Al-Baladi & Sons Company.
You May Also Like
Will Bitcoin Make a New All-Time High Soon? Here’s What Users Think
SWIFT Tests Societe Generale’s MiCA-Compliant euro Stablecoin for Tokenized Bond Settlement
