Despite the tremendous revolution in Saudi Arabia's sports sector and the accompanying global media attention surrounding the attraction of elite international football stars, Saudi clubs remain absent from the financial rankings issued by major international institutions. This absence raises fundamental questions about the gap between their immense purchasing power and the lack of international institutional recognition from financial powerhouses such as Deloitte, Forbes, and Brand Finance.
Global measurement standards versus local reality
The fundamental reason for this absence lies in a radical difference in measurement and disclosure methodologies. Global institutions, such as the Deloitte Football Money League, base their rankings strictly on audited and publicly published financial data, which is characterized by complete transparency and comparability. This data includes detailed information on sources of operating income, sponsorship contracts, and television broadcasting rights.
Conversely, despite significant progress, the financial disclosure mechanisms in Saudi clubs still lack the detailed reporting required by these bodies. For example, television broadcasting rights in the Saudi league are managed centrally, and precise figures regarding each club's share are often absent from the general financial statements, leaving this vital resource—which is the backbone of European clubs—out of the reach of international analysts.
Context of transformation: The privatization project and Vision 2030
To understand this landscape more deeply, one must consider the historical and economic context of Saudi sports. For decades, clubs have relied on direct government support and honorary members, relegating the concept of "self-generated revenue" to a secondary concern. However, the launch of the sports club investment and privatization project , announced by Crown Prince Mohammed bin Salman, and the transfer of ownership of Al-Hilal, Al-Nassr, Al-Ittihad, and Al-Ahli to the Public Investment Fund, represents a historic turning point aimed at transforming these institutions from subsidy-dependent entities into sustainable commercial enterprises.
This radical transformation aims to raise the market value of the Saudi League to be among the top 10 leagues in the world, a goal that cannot be achieved internationally without adopting the standards of “Financial Fair Play” and accounting transparency that allow foreign investors and international rating agencies to read the financial statements clearly.
The problem of sponsorships and the confusion between support and investment
Saudi clubs face another challenge in classifying sponsorship contracts. Forbes and Brand Finance require documented commercial contracts that clearly distinguish between the market value of sponsorship and institutional or governmental support. In many local cases, partnerships are announced in general terms without specifying financial values, binding durations, or the accounting distinction between operating revenue generated by the club's activities and investment funding.
The road to global ranking
Saudi clubs today boast a broad fan base and media influence that rivals that of major European clubs, but this momentum needs to be translated into internationally recognized figures. The next step to breaking the barrier in global rankings requires the publication of audited annual financial statements from international accounting firms, published with complete transparency, and separating operating revenues from government subsidies. This is the path that the Ministry of Sport and the Saudi Professional League have begun working on to ensure Saudi clubs have a well-deserved place on the global sports economic map.
