Former England and Liverpool midfielder, Steven Gerrard, has been announced as the new manager of Saudi Arabian football club, Al-Ettifaq. The prestigious two-year contract was finalized in London, marking a significant move for Gerrard's coaching career. While financial details were not disclosed, this high-profile hiring comes as no surprise, given Saudi Arabia's recent trend of attracting renowned football stars. The kingdom has already secured the services of Cristiano Ronaldo, Karim Benzema, and others in a bid to elevate the status of its soccer league on the global stage.
This ambitious move is part of Saudi Arabia's broader strategy, driven by Crown Prince Mohammed bin Salman, to diversify the economy, enhance the country's international image, and stimulate tourism. Sports, including football, play a vital role in achieving these objectives. In addition to considering a joint bid to host the 2030 FIFA World Cup, Saudi Arabia has allocated substantial funds towards expanding its involvement in various sporting events, such as golf, Formula 1, and boxing.
Underpinning this sports-focused strategy is the role of the sovereign wealth fund, which manages about $700 billion in assets. The fund has recently taken a more active role in the Saudi league, acquiring majority stakes in four major clubs. Furthermore, state oil company Aramco has also taken ownership of another club. As a result, the government aims to quadruple the league's annual revenue to $480 million by 2030.
Gerrard's appointment as the new manager of Al-Ettifaq solidifies Saudi Arabia's commitment to attracting top talent and building a strong football culture within the country. This move will undoubtedly generate excitement among fans, as they hope for a successful and competitive future for their beloved club.