00:00Yeah, I think it's part of a wider sort of look at their strategy and vision. People might be aware,
00:07of course, that the vision for the kingdom was 2030 and sport was a big part of that and the
00:12tourism aspect.
00:13They invested heavily in a number of sports. There's, of course, the football side of things and the Saudi Pro
00:19League. There's their ownership of Newcastle United in the UK. There's other sports. There's been Formula One. There's been big
00:26boxing events, even the WWE have been in Saudi Arabia.
00:30So they went heavily on sport as an investment vehicle. I still think they will continue to do that. I
00:38think they will still see sport as part of that bigger vision for the kingdom.
00:42And obviously, the Football World Cup is going to be there at some point in the not too distant future.
00:47But we are seeing noises and suggestions that they are potentially divesting in some of those sporting properties that they've
00:57put money into and they're looking for more sustainable operations.
01:02Yeah, Live Golf is an organisation that's run up heavy losses in the last few years and has been subsidised
01:09by the PIF. So I think it's part of a wider plan on where they see their strategy kind of
01:16moving towards that 2030 vision for the kingdom.
Comments