In today’s world, sport has long outgrown the confines of mere competition. A whole betting industry has grown up around it with 1win, Mostbet and other multi-billion dollar companies. And also sport is as much an entertainment industry as movies or music.
And also sport has become a powerful tool of influence, projection of power and shaping the image of countries in the international arena. And in this geopolitical game, the rich oil monarchies of the Middle East are beginning to play an increasingly important role.
With huge financial resources, the Gulf countries have realized the enormous potential of sports. Investments in this sphere allow them to raise their prestige, diversify their economies, develop tourism and gain political influence. That is why in recent years we have seen a strong expansion of Saudi Arabia, UAE, Qatar and other players in the region into the global sports industry.
One of the indicators of the success of this region is the huge influx of betting companies that offer a large number of events with good odds. If you register at 1Win, 1xBet, Melbet and other bookmakers’ apps, you can see this for yourself: among the sporting events on offer there are many local matches.
Financial muscle and sporting ambition
Behind the rapid growth of Middle Eastern countries’ influence in sports are the colossal investments of their sovereign wealth funds. In the past three years alone, they have invested more than $4.5 billion in various sports assets around the world.
The Saudi sovereign wealth fund (PIF) has thrown in $2 billion to create the controversial LIV Golf league with its hefty prize money, and is ready to invest billions more in a new joint project with the PGA Tour. At the same time, Riyadh is actively transforming the local Pro League, pouring hundreds of millions into acquiring star players like Neymar and Benzema.
Other players are not lagging behind. Qatar’s QIA fund owns French giant PSG, while Emirates from the UAE controls Manchester City. In addition to buying clubs, Arab investors are eager to invest in acquiring rights to major tournaments and events. However, the widespread criticism of the Paris club, as well as the lack of really great sporting achievements, made the qataris question the feasibility of further financing the team.
Conquering the global sports market
Financial power allows Middle Eastern powers to literally buy a place under the sun in the global sports industry. And the appetites of Arab sheikhs extend far beyond football:
- Saudi Arabia has just applied to host the 2034 FIFA World Cup;
- Qatar has already managed to host the 2022 Mundial, building $220 billion worth of infrastructure;
- The Gulf monarchies regularly host Formula 1, Grand Slam tennis tournaments and other prestigious events.
In addition to organizing majors, they actively buy teams and leagues in the West. Thus, the Qatari fund QIA is the owner of PSG, the UAE through Emiraes control “Manchester City”, also the Saudis negotiated the purchase of WWE, ATP/WTA tours
And most recently, Catari Sports Investment (QSI) acquired a 22% stake in parent company Monumental Sports, which operates clubs in the NBA, NHL and other leagues.
It is obvious that Arab investment funds are seriously aiming at conquering the global sports market. And they are not going to stop.
Ambitions, criticism and consequences
Undoubtedly, such expansion of rich Middle Eastern monarchies into global sports cannot but cause concern and criticism. The main stumbling block is human rights violations and other systemic problems in the Gulf countries themselves.
Many experts and human rights activists accuse Riyadh, Doha and other regional players of sportswashing – using sports to divert attention from domestic repression and improve international image.
