Cristiano Ronaldo Announces 1st Economic Investments in Saudi Arabia
Portuguese soccer icon Cristiano Ronaldo has embarked on a new entrepreneurial journey in Saudi Arabia, transcending the realm of sports into business waters. His recently launched mineral water brand, URSU, has inked a historic sponsorship deal with the 2023 Riyadh Season, marking Ronaldo’s inaugural economic venture in the Middle Eastern nation.
URSU’s Entry into Saudi Market
A few months back, Ronaldo introduced his own mineral water brand, injecting an initial investment of $10 million. The brand, boasting of attributes like high levels of alkaline, antioxidants, and minerals, entered into a significant brand deal as a part of the Riyadh Season 2023.
Riyadh Season, a grand event in Saudi Arabia, features major concerts, soccer games, and other unique attractions like anime parties and gaming festivals.
URSU secured the position of the official water sponsor for this event, providing a substantial platform for Ronaldo’s brand to gain global exposure.
Economic Ripple Effect
Ronaldo’s move to play for Al Nassr in the Saudi Pro League has already stirred the European football landscape, catalyzing a mass influx of talent to Saudi Arabia post his transition.
Furthermore, his monumental earnings of $207 million per year from the Saudi Arabian club Al Nassr reflects a lucrative economic engagement.
Support from Saudi Wealth Fund
The support from Saudi Arabia’s sovereign wealth fund, which has taken control of several top soccer clubs including Al-Nassr, demonstrates a rejuvenated governmental strategy to bolster the football scene in Saudi Arabia, potentially opening avenues for further economic collaborations with international stars like Ronaldo.
The endorsement deal between URSU and Riyadh Season 2023 exemplifies a symbiotic relationship where Ronaldo’s brand gets a global platform, and the event receives a boost from the soccer veteran’s global stature.
This venture not only underscores Ronaldo’s entrepreneurial spirit but also reflects a growing appeal of Saudi Arabia as a promising market for global entrepreneurs.
