The Riyadh-based Al-Hilal Club and Etihad Etisalat (Mobily)" Wednesday officially announced that they had signed a five-year strategic sports partnership agreement worth SAR 200 million (Some US$53 million). The deal, based on a contract prepared and vetted by the Investment Management department of the Saudi Presidency of Youth Welfare, is the largest in the Middle East sports-marketing history.
Officials and executives from Al-Hilal Club and Mobily said they looked forward to the ripple effects of this deal on taking sports-marketing to the next step.
Chairman of Al-Hilal Club, Prince Mohammed bin Faisal, said the agreement was a historical turning point for Saudi football and should act as an impetus for more Saudi companies to invest in sports promotion.
The Prince said he was satisfied with the enduring sense of professionalism and rationalism presented by Mobily executives during negotiations with the club. Prince Mohammed further expressed his appreciation for honorary board members, whom he described as the pillar of support for the club, after the graces of Allah the Almighty, whether that be in the club’s successes at home or abroad. He said the club would not stop calling on their consultation and advice as it progresses.
The Prince extended his appreciation for what he called “endless” support from the leadership for sports, and hopes that the agreement would achieve goals of both parties, as well as aspirations of Al-Hilal’s fans.
From Mobily’s side, the company’s CEO and Managing Director Khalid Al Kaf, said he was pleased to sign the strategic agreement with Al-Hilal Club, an agreement that Kaf added came as continuation of Mobily’s plans to bolster the needs of youth and a variety sports in the Kingdom.
Kaf echoed the Prince saying the agreement was transformation point for investment in the sports marketing sphere in the Arab World.
