SAUDI ARABIA
From over $1 billion to $25 million: why Saudi Arabia have spent so little
The Saudi Pro League clubs have kept their money in their pockets this winter, with Renan Lodi the only big name transfer completed so far.
After a summer of big spending came a winter of tight pockets in Saudi Arabia. The arrival of Cristiano Ronaldo in January 2023 was the cornerstone of Crown Prince Mohammed Bin Salman Bin Abdulaziz Al Saud’s ambitious project to place the Arabian country at the epicentre of the sports world, with soccer at the forefront, and to give the region a facelift with an unprecedented injection of money.
The executing arm of the Saudi plan is the Public Investment Fund (PIF) is governed by Yasir bin Othman Al Rumayyan, chairman of Newcastle and Saudi Arabia’s largest oil company. The PIF is the owner of the four big soccer clubs: Al Hilal, Al Nassr, Al Ittihad and Al Ahly, which are largely responsible for the Saudi Pro League’s investment of more than $1 billion in transfers last summer.
The Saudis have stopped spending money
Thanks to this cash injection, the four clubs brought in players established in Europe’s top leagues such as Mané, Mahrez, Firmino, Gabri Veiga, Kanté, Laporte and Benzema, among many others. Only the Premier League spent more in the summer window.
This situation created a new paradigm in world soccer, as for the first time, a non-European league achieved these economic records. However, against all odds, the Saudi euphoria seems to have come to a sudden halt. At the beginning of January, the PIF imposed a transfer limit for this window and left it up to the individual clubs and their treasuries to decide whether to reinforce their ranks in the winter market.
Left-back Lodi the only transfer so far
Without the support of the PIF, it would have been impossible for the signings in the summer to have come to fruition; in the whole month of Janaury, the transfer expenditure in the Saudi league has been sitting at $25 million. The market closes on January 29 and no major movement has been expected beyond the imminent arrival of Rakitic at Al Shabab, who have acquired the services of the Croatian after he reached a contract termination agreement with Sevilla.
The signing of full-back Renan Lodi by Al Hilal, who paid €23 million to Marseille, was the only financial transaction in the entire Saudi Pro League; he made his debut against Inter Miami in the Riyadh Season Cup. All other additions have been at zero cost or on loan. In fact, if a big name arrives at the last minute, it will also be at no cost.
Yesterday, English media reported that goalkeeper David de Gea, who is currently without a club, had received a lucrative offer from Al Shabab, as had Rakitic. The Spanish goalkeeper has been out of action for six months after leaving United in the summer. The Croatian, meanwhile, has already said his goodbyes in Spain and will join up with the Saudi side before the end of the month.