The Saudi Professional League Faces Grave Financial Crisis
Sources reveal to “Hadaf News” the details of the grave financial crisis that hit the Saudi Professional League this season.
The sources, who preferred to remain anonymous, explained that the league suffers from a financial crisis. And they have large financial commitments estimated at 7 million Saudi riyals.
The big commitments are the monthly prizes that the League allocates to the best in the league competitions.
The league’s first commitment is the awards that it must give until the end of May. Awards include the best coach, best player, and best goalkeeper.
The Saudi Professional League awards each winner of its monthly prize an amount of 50 thousand Saudi riyals.
As a result, the sources reported that the League sent an urgent official letter to the Saudi Arabian Football Federation.
In its letter, the League called on the Federation to provide the necessary financial support to pay these required commitments.
Above all, the grave financial crisis that hit the League was a result of the successive and accelerated withdrawal of sponsors of the Saudi Professional League.
The sponsors justified their withdrawals with the financial crisis caused by the Coronavirus.
Earlier, in October, Schneider and Musafir canceled their sponsorship contract for the Mohammed Bin Salman Professional Cup League.
Sources confirmed that Baja is the latest of those sponsors to withdraw from sponsoring the Saudi League.
Baja had entered into a sponsorship contract that extends to the end of the next season, 2021-2022.
The company started its sponsorship of the league in August 2019 after it entered into a contract with the Saudi Professional League.
The contract between the company and the League came under the category “C” sponsorships, with a total amount of five million Saudi riyals.
However, Beja ended the sponsorship contract and informed the League that it was unable to complete it.
It is noteworthy that the decision came about five months after the company renewed its sponsorship contract for the league.
While the two companies, Schneider and Musafir, withdrew from sponsoring the competitions, Baja renewed its contract with the League in October.
But the company recently apologized and informed the League of its inability to continue.