RIYADH, Aug 24 — As star footballers line up to take Saudi money, it is easy to forget this is a phenomenon that stretches back decades. Only now, the stakes are much, much...
RIYADH, Aug 24 — As star footballers line up to take Saudi money, it is easy to forget this is a phenomenon that stretches back decades. Only now, the stakes are much, much higher.
“In addition to receiving a new Mercedes Benz and a reported US$10,000-a-month living allowance, Rivelino will be housed in one of the spare palaces of Prince Khaled Al Saud,” theSimilar luxuries — adjusted to current prices — are being lavished on Neymar, Cristiano Ronaldo, Karim Benzema and the other late-career superstars who have joined the Saudi Pro League this year.
More than vanity or “sportswashing” the country’s highly criticised human rights record, however, the Saudi spree is part of an existential push: reshaping the economy before oil revenues decline “Rivo came and some other Tunisian players who played well in World Cup 1978. But the experience was eventually a failure.”
Opec, the oil cartel of which Saudi is a prominent member, has projected global consumption will peak around 2040, implying revenues will then flatten and decline.
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