"The Saudi Fund for Development and FIFA said the subsidized loans would be offered to member football associations to build or revamp stadiums. Saudi Arabia will host the men's World Cup for the first time in 2034. FIFA has also signed Saudi state oil company Aramco to be a 2026 World Cup sponsor. FIFA president Gianni Infantino called the agreement 'a crucial step in ensuring our FIFA Member Associations have the facilities to make football truly global.'"
"Sultan bin Abdulrahman Al-Marshad, CEO, of the Saudi Fund for Development said: 'We at SFD believe in the power of sports to change lives. We are combining our strengths -- SFD's development finance and FIFA's technical experts -- not only to build venues but also to create lasting legacies. We are investing in the infrastructure that will unlock human potential, generate jobs, empower young people and strengthen communities for generations to come.'"
FIFA and the Saudi Fund for Development agreed to provide up to $1 billion in subsidized stadium-financing loans for developing member football associations to build or revamp stadiums. The loans are intended to strengthen sports infrastructure and support broader social and economic development in recipient countries. Saudi Arabia secured hosting rights for the men's World Cup in 2034 and Saudi state oil company Aramco became a 2026 World Cup sponsor. Saudi investment activity also includes PIF funding for LIV Golf and marquee boxing events, and a previously announced global Club World Cup broadcast deal with streaming service DAZN.
Read at ESPN.com
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