The 20-year agreements will run from 2022-2042 and be subject to review every five years RIYADH: Qiddiya Investment Company has signed two historic strategic partnerships with Riyadh-based sports clubs Al-Nassr and Al-Hilal. The 20-year strategic partnerships are valued at SR100 million ($26.7 million) per club per year, making them the largest in the history of both clubs and some of the largest in the region. The partnerships will run from 2022-2042 and will be subject to review every five years. The strategic partnerships include several benefits for both clubs — as well as Qiddiya — and will open new horizons in sports investment in Asia, specifically the Middle East, further establishing Qiddiya as the future capital of entertainment, sports and culture. Qiddiya’s planned clifftop 40,000-plus-seat stadium, once complete, will become the new venue for home games for both teams and the full range of sporting facilities being developed will be made available for both clubs. The stadium is a flagship element of Qiddiya’s strategy to become a global sporting hub and its complex will include corporate hospitality lounges and VIP and VVIPs seats. Sports fans will be able to enjoy the view of Qiddiya’s Resort Core from every seat to complement the quality on-field action. The pioneering agreements were formally signed between Qiddiya’s Managing Director Abdullah bin Nasser Aldawood and Al-Nassr FC’s Chairman Musalli Al-Muammar and Al-Hilal SFC’s Chairman Fahad bin Nafal at a ceremony at the Qiddiya Experience Center. Senior officials from these two giants of Saudi football also attended the ceremony. Commenting on the partnership, Aldawood said: “This strategic partnership is in line with Qiddiya’s strategy to contribute to the development of the wider sports industry in Saudi Arabia and is another important step toward our aim of building and developing Qiddiya as a formidable sports hub that is the home of local, regional and international competitions. There will be numerous benefits for the club, including the use of our state-of-the-art facilities to train and become world champions across a wide range of sports in addition to football. “Both Al-Nassr and Al Hilal are set to play their home games at Qiddiya’s world-class venues, including the incredible new clifftop stadium, once construction is complete,” he said. “The clubs’ fans will gain an entirely new experience as they will have access to the entertainment and sports facilities and venues around the stadium. They will be inspired to pursue their own sporting dreams, which will ultimately boost the sports industry’s contribution to the country’s GDP.”