Inter strategic expansion in Saudi Arabia

Article posted by Coliseum, October 21^st, 2024

Image: FC Internazionale

The Serie A team Inter Milan (Italy) is formalizing its commitment to strategic expansion in Saudi Arabia with the acquisition of the Ministry of Investment of Saudi Arabia (MISA) license which is essential for any foreign company wishing to operate commercially in the country.

‘inter.it’ stated that the club will benefit from the support of the Ministry of Investment of Saudi Arabia (MISA) to further extend its brand presence in the Middle East and grow its fan base. At the same time, the Inter Milan will bring its expertise, values and experience as a top-level football club to the country supporting Saudi Arabia’s national plan for 2030 (Vision 2030). Through promoting talent and sports culture, the ‘Nerazzurri’ club aims to contribute positively to the country’s future ambitions.

The Inter Milan, or Inter, is an Italian professional football club based in Milan, Lombardy (Italy) which plays in Serie A, the top of the Italian football league system. Inter is the only Italian side to have always competed in the top flight of Italian football since its debut in 1909.

The 75,817-capacity San Siro is a football stadium in the San Siro district of Milan, Italy. It has a seating capacity of 80,018 making it the largest stadium in Italy and one of the largest stadiums in Europe.

Riyadh (Saudi Arabia)-based the Ministry of Investment of Saudi Arabia (MISA) is a Saudi Arabian Government Ministry that oversees foreign investment in the country by issuing licenses to the foreign investors.

‘inter.it’ further stated that Inter will not only export its history and tradition as a globally renowned football club but also the very best of Made in Italy which the Nerazzurri represent. Through strategic partnerships the ‘Nerazzurri’ will champion the Italian values, tradition and style beyond sport bringing to Saudi Arabia the entire Inter ecosystem with a project that will highlight the fusion of design, entertainment, wellness, and Inter’s historical legacy.

Inter’s entry into the Saudi market will also enable the club to expand its fan base engaging with the country’s young and rapidly growing population. The opening of several Inter Academies across Saudi Arabia, support for the development of youth and women’s football, the organisation of unique experiences, and the involvement of the club’s legends in the local events will further strengthen the bond with the Saudi community promoting football values beyond borders.

The official acquisition of the commercial license was announced on October 16^th during a ceremony held in Riyadh at the MISA headquarters attended by the Vice-President of Inter, Javier Zanetti, the Chief Executive Officer (CEO) (Corporate) of Inter, Alessandro Antonello, and the Chief Revenue Officer (CRO) of Inter, Luca Danovaro, followed by an exclusive gala dinner with the local stakeholders.

Averred Antonello, “We’re extremely proud to be the first international football club to obtain the MISA license which will allow us to collaborate with the local businesses to bring our experience and expertise in sports development to Saudi Arabia contributing to achieving the targets set out in Vision 2030. Through this license the club is committed to creating value for Saudi Arabia by supporting the development of its sporting sector and promoting the involvement of the local businesses as part of our global network. Since we first played here in Riyadh, we’ve been struck by the passion that young Saudis have for our club and we look forward to engaging them even more in the ‘Nerazzurri’ world. At the heart of what we do at Inter is developing the young players, both in footballing terms and, above all, as people. We’re ready to work hard to export our expertise to Saudi Arabia beyond the playing field by impacting the social and cultural areas too.”

Added Zanetti, “Inter is strengthening its presence in a market that has already shown high levels of enthusiasm for the ‘Nerazzurri’ thanks to its participation and victories in the Italian Super Cup (an annual Super Cup tournament in Italian football) in Saudi Arabia over the past two years. The club’s fan base and brand visibility in the region have seen a significant increase. The Arabic-speaking fans following the club’s social media profiles now exceed five million making it the second-largest cluster in the entire ‘Nerazzurri’ community.

The Saudi Vision 2030 is a Government program launched by the Kingdom of Saudi Arabia which aims to achieve the goal of increased diversification economically, socially and culturally in line with the vision of the Saudi Crown Prince and Prime Minister Mohammed bin Salman.

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