FROM SAUDI SPLURGE TO SPENDING SLUMP

Football transfer outlay drops in 2024 as officials assess the commercial returns

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RIYADH - A billion-dollar binge which brought some of football's biggest names to Saudi Arabia's modest league has given way to a more cautious phase, with spending down dramatically in 2024.

After a jaw-dropping 2023, when Cristiano Ronaldo led a parade of largely ageing superstars to the oil-rich monarchy, Saudi transfer spending slumped from US$957 million (S$1.25 billion) to US$431 million in the latest window.

On any given weekend, Ronaldo and Karim Benzema, with six Ballons d'Or between them, can now be seen in the Saudi Pro League, with N'Golo Kante, Sadio Mane and the injured Neymar among a host of other top players.

But their ranks have barely swelled this season, with Brentford's occasional England international Ivan Toney the most notable addition when he signed for Al-Ahli.

The Saudi Pro League, the second-biggest spender in the summer of 2023, behind only the English Premier League, dropped to sixth in 2024, trailing the “Big Five” European competitions that it aims to rival.

According to analysts, Saudi officials are assessing the commercial returns of their record outlay as Saudi Arabia's lavish drive to modernise its oil-reliant economy comes under budgetary strains.