The Saudi Ministry of Sports announced changing the name of the King Abdullah Sports City Stadium in Jeddah, known in the media as the Shining Jewel.
The ministry decided to put the name of the huge stadium up for sale, as is the case with most European stadiums, in order to raise money and encourage the role of the private sector in the field of sports.
Ultimately, the “Al-Inmaa” Company obtained the rights to the name of the Shining Jewel Stadium, so that the name of the new stadium became “Al-Inmaa Stadium”.
According to the newspaper Al-Riyadh, the Al-Inmaa Company will pay 19 million Saudi riyals per season to buy the name of the second most important Saudi stadium.
The contracts were officially signed on Thursday between the ministry and the company, so that the name Al-Inmaa will extend to the large stadium for 5 years in exchange for approximately 90 million riyals.
This phenomenon is not new in Saudi Arabia, as in Riyadh, the same thing happened with the current stronghold of Al-Nasr, Al-Awal Park, and it is assumed that all stadiums will soon be subject to the same matter.
The new Al-Jawhara Stadium was opened in 2015 and hosted many major events, the last of which was the Spanish Super Cup.
