Gulf soccer clubs slash spending as they focus on younger talent

Soccer teams in the Gulf cut transfer spending in 2024, picking up younger talent instead of aging superstars.

Qatar, Saudi Arabia, and the UAE spent $646 million on new players — nearly half the $1.2 billion shelled out a year earlier, according to an Asharq Business study. Saudi remains the biggest spender, led by bets on Bento, Nacho Fernandez, and Moussa Diaby: Cristiano Ronaldo’s 2022 move to Al-Nassr — on a $200-million-a-year contract — helped drive viewership and sponsorships.

Clubs remain heavily reliant on government backing, though. Al-Hilal, Saudi’s most decorated team which counts stars such as João Cancelo and Sergej Milinković-Savić among its players, earned $267 million in revenue last year, resulting in $9 million in profit, not nearly enough to sustain blockbuster salaries.