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Saudi wealth fund prepares to drop five proposed World Cup stadiums
Saudi Arabia's sovereign wealth fund is preparing to tell organizers of the 2034 men's soccer World Cup that it plans to drop five proposed new stadiums, according to people familiar with the matter.
Saudi Arabia's sovereign wealth fund is preparing to notify organizers of the 2034 men's soccer World Cup that it plans to abandon five new stadiums proposed for the tournament, according to people familiar with the matter.
The Public Investment Fund would likely concentrate on three new stadiums as it reduces spending on some signature domestic investments, the people said. Removing the five proposed venues would leave the kingdom with 10 match stadiums. The changes form part of a revised plan being prepared for submission to FIFA.
The fund is looking to drop stadium developments in King Abdullah Economic City, Qiddiya Coast, Roshn, New Murabba and NEOM. Several of those venues are tied to larger real estate projects that have been halted or where construction has slowed.
Saudi officials are still developing the updated proposals, and the plans could change, the people said. Neither the fund nor the Saudi Ministry of Sport responded to requests for comment.