Saudi sports clubs to be privatized

Updated 06 January 2013
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Saudi sports clubs to be privatized

DAMMAM: The bylaw for privatization of Saudi clubs will be issued shortly as a panel of experts are now putting final touches to it, said Prince Nawaf bin Faisal, head of the Youth Welfare Presidency.
“Privatization will bring about qualitative improvement to Saudi sports,” the prince said while opening a sports investment forum here.
“We have signed an agreement with FIFA to seek its guidance for building world-class sports facilities,” he said, adding that the forum would contribute to the privatization process. The law firms SNR Denton and Deloitte’s Sports Business Group, a unit of Deloitte & Touche, have been awarded a nine-month project to advise the presidency on the privatization project.
Together, they will complete a study and recommend an approach to privatize the main youth sports clubs and restructure the existing domestic professional soccer league. The study will be completed in two months.


Ole Gunnar Solskjaer named Manchester United caretaker manager

Updated 9 min 8 sec ago
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Ole Gunnar Solskjaer named Manchester United caretaker manager

LONDON: Ole Gunnar Solskjaer was on Wednesday named as Manchester United’s caretaker manager until the end of the 2018/19 season following the sacking of Jose Mourinho.
Solskjaer will take charge of the first team with immediate effect and will remain in place while the club looks for a new full-time manager.
“Manchester United is in my heart and it’s brilliant to be coming back in this role. I’m really looking forward to working with the very talented squad we have, the staff and everyone at the club,” said the Norwegian.