Riyadh – Mubasher: Saudi Arabia has appointed Jadwa Investment as an advisor for the privatisation of five soccer clubs in the Saudi Professional League, according to Reuters.

In November, the government approved plans to turn state-owned sports clubs into private companies, the agency said.

The Board of Economic and Development Affairs directed the General Authority of Sports and other stakeholders to create Sports' Development Fund, during a period not exceeding three months, take advantage of other related funds to ensure the achievement of desired objectives of its establishment, according to Saudi Press Agency (SPA).