GCC nations reshaping global sports
I n recent years, the landscape of global sports has witnessed a seismic shift, driven by an infusion of capital from the Gulf Cooperation Council (GCC) countries buoyed by their substantial oil reserves. This financial influx is reshaping the power dynamics within the sporting world, as leagues, teams, and athletes succumb to the allure of substantial investments. The ensuing ramifications include not only financial gains but also increased influence and infrastructural developments, collectively orchestrating a global realignment of athletic resources and clout. This trend is expected to gain further momentum within the GCC in the foreseeable future. At the core of this transformation lies the intricate interplay between geography, politics, and economics, shaping global sports in unprecedented ways. The GCC na- tions are strategically utilising sports as a means to forge identity, amass power, and project and exert influence on the international stage. This concerted effort aligns with their broader objective of integration into the global economy and culture, reflecting a multifaceted approach to soft power diplomacy. When the NBA needed a new country to continue its global expansion, it turned to the UAE, which was eager to help stage preseason games an ocean away. When boxing promoters dreamed up a fantasy match between heavyweight champion Tyson Fury and mixed martial arts star Francis Ngannou, they partnered with Saudi Arabia, the oil-rich country that’s doling out impossibly large checks and upending the sporting establishment. Riyadh has spent about $50m to secure the rights to host the fight as sport becomes the latest platform through which Crown Prince Mohammed bin Salman looks to deploy the Kingdom’s financial muscle to project the country on to the global stage, reshape perceptions and shake-up the nation’s conservative society — all part of his Vision 2030 programme of economic reform. In doing so, Riyadh is following in the footsteps of neighbouring Qatar and the UAE, which have invested billions of dollars to make their mark on the interna- tional sports arena. When Ted Leonsis was looking for an investor to bolster Monumental Sports, the D.C.-based company that owns seven sports franchises, he found willing — and
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deep-pocketed — partners in Qatar. There is a real burgeoning economy for sport, given a populace that’s “young, hungry, passionate about sport in the GCC. The demographics of the region make it a utopia for advertisers and sports leagues alike. In the UAE, nearly 70% of the population is male. In Saudi Arabia, more than 63% is 30 or younger. In Qatar, expats make up nearly 90% of the population. Across the region, oil money is reshaping the sports landscape, providing an influx of cash to boost sports such as golf, tennis, motorsports and soccer. The UAE, as a trailblazer in the shift away from oil-centric revenue, initially focused on sports such as tennis, Formula One, and cycling. • Across the region, oil money is reshaping the sports landscape, provid- ing an influx of cash to boost sports such as golf, tennis, motorsports and soccer. • With Australia backing out of FIFA’s bidding process, Saudi Arabia is now the lone nation seeking to host the 2034 World Cup, which would be the country’s biggest sports coup to date. • The headlines are landing weekly, trumpeting shocking team purchases, lavish sponsorship deals and lucrative contract offers, all with unprece- dented strings of commas and zeros as the GCC countries are feverishly courting high-profile athletes. • GCC leaders want to attract millions of talented individuals to visit, work and live in their countries, and they will do so through sports, arts, en- tertainment, technology, and tourism. This will change their own people, and the perception of their countries.
40 Federation of GCC Chambers
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