The News
The soccer superstar Cristiano Ronaldo appeared to be readying his exit from the Saudi Pro League, potentially closing a chapter in which he became an unlikely ambassador for the vast transformations underway in the kingdom.
The Portuguese striker in 2022 agreed a $227-million contract with Al Nassr FC amid a spending boom that ultimately grew the SPL’s visibility and its sponsorships.
The mega-signings were part of largely successful efforts to diversify Saudi Arabia’s economy away from fossil fuels: New data showed that non-oil sectors contributed 53% to the kingdom’s GDP in 2023.
More recently, Saudi clubs have eschewed big-ticket signings in favor of developing younger talent, a shift that parallels the country’s own changes in spending.