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Rodium Realty Limited Stock Trend Analysis ✌️【Market Trends】✌️ Expert predictions with real-time stock, futures, and metals, energy data to help you quickly recover and grow. When Saudi Arabian club Al-Hilal reportedly planned a $1.1 billion bid to sign French soccer superstar Kylian Mbappé – including $332 million to his club, Paris Saint-Germain (PSG), and an eye-watering$775 million salary packetto the World Cup winner for just one year – it was slammed by critics as sportswashing.

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In a record-breaking transfer window, Saudi Pro League (SPL) clubs spent close to $1 billion, acquiring 94 overseas players from Europe’s major leagues – France’s Ligue 1, Spain’s La Liga, Italy’s Serie A, Germany’s Bundesliga and the English Premier League – according to Deloitte.

Despite the Arab nation’s poor human rights record,Saudi Arabia’s spending spreeto turn its domestic soccer league into a star-studded, bona fide competition shows the seriousness of its ambition.

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“Well if sportswashing is going to increase my GDP by one percent, then I will continue doing sportswashing,” MBS said in aninterviewwith Fox News which aired Wednesday.

Pressed on if he was bothered by the use of the term, MBS continued: “I don’t care. I have one percent GDP growth from sport, and I am aiming for another one and a half percent. Call it whatever you want, we’re going to get that one and a half percent.”

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By attracting some of the world’s biggest stars to the Gulf states, the SPL wants “to drive competitiveness on and off the pitch,” though it’s keen to emphasize that these overseas players will help develop “young Saudi talent.”

During this summer transfer window, the government-controlled PIF increased the cumulative value of these four clubs nearly five times, making them the most valuable in the country, according to estimates by the sports website Transfermarkt.

Plenty of other leading stars have eagerly said yes to the SPL, notably 2022 Ballon D’Or winner Karim Benzema joining Al-Ittihad at the end of his contract with Spanish soccer giant Real Madrid.

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Despite the financial outlay, the SPL is remaining deliberately tight-lipped about the specifics of its financial gamble, with chief operating officer Carlo Nohra confirming to 【 - Free VIP Group 】 Sport that it was “not in [the SPL’s] competitive advantage” to report the salaries offered to players and coaches.

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“Essentially, the signal is ‘We mean business,’” Simon Chadwick, a professor of sport and geopolitical economy at SKEMA Business School, told 【 - Free VIP Group 】.“We’ve got so much money that for a player who is … coming towards the end of his career, we can afford to pay him 700,000 [GB pounds a week], or whatever it is that he’s being paid, and still have Cristiano Ronaldo and still be in the market for other players as well,” Chadwick said, describing Saudi’s approach to becoming a sporting superpower, adding that the sky is the limit in terms of cost.

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It remains to be seen whether Saudi’s turbocharged investment will have a lasting impact or resemble something like a costly rebranding effort.

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Club games can attract huge crowds in the Middle Eastern nation. “For example, Al-Ittihad against Al-Hilal, you’re talking about drawing crowds of 40, 50, 60,000 people, these are games that are comparable in size to Chelsea vs. Arsenal, Manchester United vs. Manchester City,” Chadwick said.

Buying star players, some arguably past their prime, also provides an easy win for Saudi teams, according to Kieran Maguire, co-host of “The Price of Football” podcast.

“From the Saudi authorities’ point of view, they’re getting a ready-made product. Everybody’s heard of Benzema. Everybody’s heard of Cristiano Ronaldo and so on,” Maguire said.

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Chadwick explains that Saudi Arabia’s government is concerned with the prospect of its younger members of society becoming radicalized or an anti-government sentiment bubbling up like that of the Arab Spring – and looks to offer its population a thriving soccer industry to keep it placated.

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“What we’re beginning to see in Saudi Arabia right now is the emergence of a new social contract. And the social contract essentially is catering for the needs of the Gen Z population,” Chadwick said.

“You want Ronaldo? You got him. You want some of the best football teams in the world? You got them. You want the World Cup to come to Saudi Arabia? You got it … But don’t question us,” Chadwick explained.

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Human rights group Amnesty International told 【 - Free VIP Group 】 that it has documented a rollback in human rights in Saudi Arabia, including an escalating crackdown on freedom of expression and an increased use of counterterrorism and cybercrime laws to silence dissent. Between 2022 and 2023, the organization said it has documented an increase in criminal prosecutions compared to previous years.

In 2022, Amnesty reported the highest number of annual executions in the country in 30 years, with 196 people killed.

“Reputation is important in terms of attracting foreign investment, and … Mohammed bin Salman, as much as he has significant financial muscle, needs foreign investing for the realization of his diversification,” James Dorsey, the author of the syndicated column and blog, “The Turbulent World of Middle East Soccer,” explains.

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Projections indicate the kingdom has around 20 years to diversify its economy to ensure it is more resilient, according to Chadwick – not least to fund its Vision 2030 projects, including the $500 billionNeom city, a 106 mile-longlinear citycalled The Line and a futuristic plan to revamp the capital.

“Part of the grand vision of Mohammed bin Salman, looking forward to 2030, he does have his desire to make Saudi Arabia less dependent on natural resources to look at a post-fuel economy [involving] tourism, entertainment. If Saudi Arabia can become a hub for major sporting events, then that’s a way of attracting interest to the country,” said Maguire.

【 - Free VIP Group 】 has reached out to the Saudi Ministry of Sport for comment on allegations that the kingdom has been rolling back human rights, and investing in soccer as a way of “sportswashing” its image.

In response to previous criticism about Saudi Arabia’s purported “sportswashing,” the kingdom’s sports minister Prince Abdulaziz bin Turki Al-Faisal said: “People that don’t know Saudi Arabia, have never been to Saudi Arabia, go out and talk about it as if they’ve lived there for 30 years, 40 years. So I always tell people, come to Saudi. Come and see Saudi.

“See what it is, see the people, meet the people. Look at what the country is doing for the future of the people in Saudi, then you can criticize as much as you like,” he added.

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In 2021, the Saudi government-controlled PIF bankrolledLIV Golf, reportedly at a cost of $2 billion, attracting many of the sport’s top players away from the US-based PGA Tour and Europe-based DP World Tour by offering big dollar prize money, with PGA Tour board member Jimmy Dunne raising fears that they might end up “owning golf.”

Earlier this year, the US-basedPGA Tourannounced it was set to partner with the Saudi-backed breakawayLIV Golf, ending a feud that has dogged the men’s professional game for the past year, with Dunne warning that sport’s governing body had no choice but to reach the truce to retain some measure of control.

“They have an unlimited horizon and an unlimited amount of money,” he said at a contentious Senate hearing on the truce between the two tours.

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“As far as I know, Mbappe and [Erling] Haaland don’t dream of Saudi Arabia. I don’t believe that the best players at the pinnacle of their careers would go to Saudi Arabia,” he said last month.

Liverpool manager Jurgen Klopp took a different view, referring to the fact that the Saudi summer transfer window stays open after European clubs see theirs close: “I don’t know how stable it is and I think the next two weeks will show how much of a challenge it is because whatever happens there, no one can react anymore.

“I don’t know where it will lead to but it feels rather like a threat or a concern than not because I can’t see how we really deny it in these moments, what can we do?” he added.

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“There was a time when it was all about Italy. There was a time when it was all about Spain. What we’re looking for in the industry is an opportunity to compete, and to compete on an even scale and to improve upon whatever exists in the industry,” said Emenalo in a press release sent to 【 - Free VIP Group 】.

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“We can’t expect to be paying market value to entice people to come here at this early stage in our development.”But analysts say that the difference lies in the level of transparency, which “simply doesn’t exist in Saudi Arabia,” Chadwick explained to 【 - Free VIP Group 】.

European soccer governing body UEFA has financial fair play (FFP) rules on teams’ spending, while Major League Soccer in the US has a salary cap for its clubs.

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“They’ve got no chance to get into that figure at present,” Maguire explained, but added that the SPL could perhaps move into the top 10 of the world’s domestic leagues.

“I think they’re realistic. They don’t say that they’re going to overtake La Liga or the Premier League or the major European leagues,” Maguire said.

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【 - Free VIP Group 】 has reached out to the PIF for further comment about its investments in sport, particularly soccer and golf, and criticisms about its lack of transparency.

Chadwick raised concerns over how a lack of financial rules affecting Saudi clubs might dilute UEFA’s FFP regulations, as well as those of the Premier League, or impact world soccer governing body FIFA’s systems of governance.

Rodium Realty Limited Stock Trend Analysis ✌️【Market Trends】✌️ Free stock market analysis and real-time data to help you select the best investment portfolio and achieve stable returns. The lack of transparency in Saudi Arabia’s wealth fund has already raised suspicions in the US golfing and political spheres. Earlier this summer, the Senate Permanent Subcommittee on Investigations launched an inquiry about the PGA Tour’s agreement with the PIF-controlled LIV Golf.

Chadwick told 【 - Free VIP Group 】 that, so long as there is no independent organization that monitors the reporting of every league’s financial endeavors, “nobody really knows for sure what the accurate financial information is.”

“This vacuum [of information], this uncertainty is wrapped in a veneer of lobbying, which is intended to either overinflate or underinflate player transfer values and salary information because it serves a political purpose,” Chadwick says, adding that this purpose is “signaling.”

【 - Free VIP Group 】’s Chris Isidore, Eoin McSweeney, Eleni Giokos, Andrew McNicol, Tamara Qiblawi and Andrew Raine contributed reporting.

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