AS&H in co-operation with Clifford Chance advises Qiddiya Investment Company in relation to its historic strategic partnerships with Al-Nassr Football Club and Al-Hilal Saudi Football Club
Abuhimed Alsheikh Alhagbani Law Firm (AS&H) in co-operation with Clifford Chance advised Qiddiya Investment Company (QIC) in relation to two historic strategic partnerships with Riyadh-based sports clubs, Al-Hilal Saudi Football Club and Al-Nassr Football Club. The 20-year strategic partnership is one of the largest in the history of both clubs and one of the largest in the region. The partnership will run from 2022-2042 and will be subject to review every five years.
Situated on the outskirts of the Saudi Arabian capital Riyadh, Qiddiya is planned to become a leader in entertainment, sports and the arts and a destination that presents a wide spectrum of offerings that include sports, wellness, nature, environment, parks, attractions, mobility as well as arts and culture. Once completed, Qiddiya’s planned cliff-top 40,000+ seat stadium will eventually become the new venue for home games for both teams and the full range of sporting facilities being developed will be made available for both clubs.
The AS&H team was led by Partners Majid Al-Sheikh and Daniel Royle, with support from Associates Abdulrahman Al-Rashed, Zayn Khan, Naif Al-Sheikh, Nawaf Mutwalli and Khaled Al-Bakr.
AS&H and Clifford Chance have a strong track record of advising on some of the largest, most innovative and most complex deals in the Middle East having recently advised the Qiddiya Investment Company in relation to Six Flags Qiddiya theme park, the Public Investment Fund (PIF) on the successful completion of its approximately SAR2.83 billion capital increase in Emaar, The Economic City (EEC) through the conversion of debt to equity as well as King Abdullah Financial District (KAFD), one of the largest real estate projects in the region, on their successful sale of a 53-floor tower to Riyad Bank to become Riyad Bank’s headquarters.