There’s a saying in sports journalism: “The answer to all your questions is money.” But in the case of Saudi Arabia’s massive sports investment programs during the reign of Crown Prince Mohammed Bin Salman, money is not the whole story.
In a simple sense, there is a clear profit motive. With US$925 billion in assets in 2023, Saudi Arabia’s sovereign wealth fund exists to convert oil revenues into even greater national income.
Last year, the country’s Public Investment Fund reported $36.8 billion in profits. Since 2016, it has spent $51 billion on sports properties.
The point is not to turn bin Salman into the world’s greatest sports impresario. Rather, it’s that he’s seeking to improve the economic and…
