Qatar’s Rise as a Major Player in Sports: What’s Next?
In the past year, Qatar has solidified its position as one of the leading power players in the world of sports. From hosting the controversial World Cup to making strategic investments in US sports teams, Qatar has been making waves in the industry. In this article, we will delve into Qatar’s recent endeavors and explore what the future holds for this ambitious nation.
Hosting the World Cup: Controversy and Success
Qatar’s hosting of the World Cup has been marred by controversy due to the country’s human rights record. However, FIFA president Gianni Infantino hailed it as the “best” World Cup ever. Despite the criticism, Qatar successfully organized the tournament and showcased its ability to handle such a massive event. This achievement has undoubtedly boosted Qatar’s reputation as a capable host for major sporting events.
Venturing into US Sports
Qatar made its first foray into US sports by acquiring a stake in Monumental Sports & Entertainment, the parent company of the NBA’s Washington Wizards, NHL’s Washington Capitals, and WNBA’s Washington Mystics. This move demonstrates Qatar’s interest in expanding its sports portfolio beyond its borders. By investing in prominent US sports teams, Qatar is positioning itself as a global player in the sports industry.
The Failed Bid for Manchester United
One of Qatar’s most significant attempts to make its mark in football was Sheikh Jassim Bin Hamad Al Thani’s bid to buy Manchester United from the Glazer family. While Sheikh Jassim’s team claimed that his offer was independent of the Qatari state, it showcased Qatar’s ambition to be involved with one of the world’s biggest football clubs. Ultimately, Sheikh Jassim was outmaneuvered by British billionaire Sir Jim Ratcliffe, who is set to acquire 25% of Manchester United for £1.3 billion. However, this setback is unlikely to deter Qatar’s ambitions in football and other areas.
Key Revelations and Future Plans
United’s presentation decks for investors included an ambitious claim that the club would surpass £1 billion in revenue by 2027. This figure was deemed unrealistic by both Sheikh Jassim and Ratcliffe’s camps, highlighting the challenges faced during the negotiation process.
Hassan Al-Thawadi, the general secretary of the Qatari World Cup’s Supreme Committee (QSC), has visited Los Angeles to explore investment opportunities in sports and entertainment. This indicates Qatar’s interest in expanding its influence beyond football and into other sectors of the sports industry.
Qatar Sports Investment, a subsidiary of the state’s sovereign wealth fund, has denied any plans to sell Paris Saint-Germain but has considered acquiring stakes in Spanish club Malaga, Italian club Sampdoria, and Brazilian club Santos. Additionally, talks have been held with Premier League side Tottenham Hotspur since the World Cup. These potential investments highlight Qatar’s intention to diversify its sports portfolio and expand its global reach.
Cost efficiency has become a priority for the QSC, leading to the decision not to pay bonuses to expatriate workers employed on the World Cup project, while Qatari nationals continue to receive them. This emphasis on cost control reflects Qatar’s commitment to managing its resources effectively.
Looking ahead, Qatar has set its sights on hosting the 2036 Olympic Games, potentially in collaboration with Saudi Arabia. This ambitious goal further demonstrates Qatar’s determination to establish itself as a leading destination for major sporting events.
Conclusion
Qatar’s recent ventures in sports have solidified its position as a major player in the industry. From successfully hosting the World Cup to making strategic investments in US sports teams, Qatar has shown its ability to compete on a global scale. While Sheikh Jassim’s bid for Manchester United may not have materialized, Qatar’s ambitions in football and beyond remain strong. With plans to diversify its sports portfolio and host future major events, Qatar is poised to continue its rise as a dominant force in the world of sports.