Saudi Arabia issues bylaws for sports club foundations

05/06/2023 Argaam
Logo ofThe Ministry of Sports

Logo of The Ministry of Sports

The Ministry of Sports issued on June 5 the bylaws of Al Ittihad, Al Ahli, Al Nassr, and Al Hilal club foundations. 

 

Under the bylaws, non-profit foundations with legal personalities as well as financial and administrative independence are established. 

 

The move aims to motivate the fans to join the foundations and leverage the membership benefits. The membership fee is SAR 100 for each vote. However, an upper limit for the number of votes was not specified. The term of membership is one year and may be renewed.

 

Each foundation will have a board of directors with a minimum of five members and maximum of nine, including the Chairman and Deputy Chairman.

 

The ministry announced the clubs included in the first track of the sports club investment and privatization project, as eight clubs became firms owned by development bodies, according to data available with Argaam.

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