Ministry of Sport, stc Group Sign Cooperation Agreement

The Ministry of Sport signed a memorandum of understanding (MoU) on Saturday with the stc Group at the Jeddah Corniche Circuit, coinciding with the stc Saudi Arabian Grand Prix Formula 1 race. The signing was attended by Chairman of the Board of Directors of stc Group Prince Mohammed bin Khalid bin Abdullah bin Faisal and Minister of Sport and President of the Saudi Olympic and Paralympic Committee Prince Abdulaziz bin Turki bin Faisal.

 The MoU aims to explore prospects for mutual cooperation and to provide innovative solutions and services in digital infrastructure and modern technologies in a way that supports the sports sector and enhances development opportunities for strategic projects, in accordance with relevant regulations.

 A tripartite agreement was also signed by Secretary-General of the Saudi Football Federation (SAFF) Ibrahim Al-Qassim, CEO of the Saudi Pro League Omar Mugharbel, and Chief Business Officer at stc Group Eng. Riyadh Muawad. The agreement outlines areas of cooperation in digital transformation and the development of technical infrastructure for Saudi football competitions.

 These initiatives contribute to achieving added economic value by diversifying income sources and expanding the range of services linked to the sector, thereby strengthening the position of sports as a promising investment pathway in line with national ambitions to make the Kingdom a global sports destination.