Saudi Arabia launches fund aiming to boost football league into world's top 10

Saudi Arabia is aiming to raise the value of the Saudi Professional League with a new fund

Crown Prince Mohammad bin Salman ahead of a meeting with the Saudi national football team. SPA

Saudi Arabia's Crown Prince Mohammed bin Salman has launched a new project aiming to boost their league and turn the Saudi top flight into a destination for top talent.

The Sports Clubs Investment and Privatisation Project aims to build up the overall sports sector in the Gulf nation, with private investment to help contribute towards the development of football and other sports in the country.

The project will allow investment from major companies in teams and organisations across the kingdom, with investment opportunities in sports clubs to be offered in the last quarter of this year.

One of the project's main aims is to establish the Saudi Professional League as one of the top 10 leagues in world football and increase the revenue of the league from 450 million SAR ($120 million) to more than 1.8 billion SAR ($480 million) annually.

The kingdom aims to raise the market value of the Saudi Professional League from SAR 3 billion ($800 million) to more than SAR 8 billion ($2.1 billion).

On Sunday, Saudi state broadcaster Al Ekhbariya reported that the Saudi Pro League champions Al Ittihad are expected to sign Karim Benzema on a two-year deal from Real Madrid.

Ronaldo's deal with Saudi Arabia is reported to be worth more than $200 million a year. Argentina star Lionel Messi is also said to be close to be moving to Al Hilal in the kingdom.