A bittersweet debut for Roma in the Europa League: under the guidance of new coach Ivan Juric, who was making his European coaching debut, the team played well and scored in the first half but allowed a late equalizer, missing the chance to secure their first European victory of the season. The disappointment of conceding a goal just four minutes before the 90-minute mark is palpable, especially since Athletic Club Bilbao is one of the two strongest teams drawn against Roma in the group stage, alongside Tottenham, whom the Giallorossi will face away.
Both goals came from headers, with Roma taking the lead through Dovbyk in the 32nd minute, finishing a well-crafted play initiated by Angelino. The visitors equalized in the 86th minute with a goal from Aitor Paredes. The match also made history with an important moment in the 71st minute: after Celik suffered a muscle injury, Saudi right-back Saud Abdulhamid entered the field, becoming the first player born in Saudi Arabia to represent an Italian club in an official match. As high-profile players are being drawn to Saudi Arabia by lucrative contracts, Abdulhamid’s case represents a pioneering example of a Saudi player transitioning outside the Arab world, potentially part of a broader strategy to enhance the Arab football system ahead of the 2034 World Cup.
To fully understand the Saudi vision and the sports-as-business initiative, we must refer to a key figure: the Public Investment Fund (PIF). Established in the early 1970s using a significant portion of Saudi Arabia’s savings, the PIF’s role is to finance major national projects. With nearly unlimited assets estimated between $600 billion and $700 billion, the PIF has significantly increased its investments in sports, aligning with the broader “Saudi Vision 2030” plan aimed at diversifying the economy away from oil dependence.
Saudi Vision 2030 underpins today’s Arab investment strategies, designed to rebalance a wealthy yet imbalanced economy that has thrived on oil over the past 50 years but faces depletion in the next 50 to 70 years. Moreover, the economic scale of the oil industry is set to decline even before reserves run out, as the automotive industry shifts toward alternatives like electric vehicles. While the PIF is pursuing various investment sectors, sports have emerged as a critical focus, positioning itself as a leading player in the sports business to convert today’s investments into substantial future revenue.
Turning to football, the PIF’s investments aim to bring top-tier players into the Arab league to enhance the value of the Saudi Pro League, which is largely under PIF’s direct or indirect control, while also establishing a foothold in the European market, exemplified by the recent acquisition of Newcastle in the Premier League. Significant funding is also allocated for events, with the 2034 World Cup anticipated as a key showcase. Teams directly controlled by the PIF in the Saudi Pro League include Al-Ittihad, Al-Ahli, Al-Nassr, and Al-Hilal, but in recent months, they have also been acquiring players for Al-Shabab, Al-Ettifaq, and Al-Qadisiya. Al-Ahli is the club from which Abdulhamid joined Roma, setting a precedent for more Arab players to venture abroad for competitive experience and recognition to bring back to their home country and national team. This move is crucial for the growth and competitiveness of the Saudi national team ahead of the home World Cup, and Roma’s involvement seems to favor the PIF in this respect. Notably, Al-Qadisiya was also the club pursuing Dybala from Roma this summer, aiming to relieve the club of a high salary during a period of budget review, before the Argentine ultimately declined.
The ties between the Friedkin-owned Roma and the Saudi fund are heating up, with a third significant clue: since October 2023, “Riyad Season” has appeared on Roma’s jerseys, a mega entertainment event organized by the PIF, which was also designated as the host of Expo 2030 just a month later. The club secured €25 million for two years of sponsorship, and prominent figures from the fund were present at Trigoria for the signing ceremony with team members and executives. Many believe that the majority stake in Roma is set to soon transfer to the PIF, perhaps following the groundbreaking for the new stadium in Pietralata.
