Prince Abdulaziz Al-Faisal, the Minister of Sports, announced the initiation of a strategy to support sports federations with a budget of two billion and 600 million riyals
This came during his speech at the launch ceremony of the strategy to support sports federations and the Elite Athletes Development Program.
According to him, the Saudi Olympic Committee prioritises are providing the necessary support and attention to each sports federation in order to achieve greatness in numerous regional and international sports, as outlined in the Kingdom’s Vision 2030 and the Quality of Life Program.
He revealed that the sports federations will receive the necessary funding towards building distinguished sports federations, as follows:
First, there’ll be Basic Funding, which covers the Union’s core activities like running costs, camps, and salaries.
Second: Incentive financing: It is packages of additional financing to reward unions for their achievements, based on the following:
• The Federation’s operational capabilities: ie the Federation’s strategy and objectives, organization, and governance.
• Federation technical capabilities: This refers to the strength of the Federation’s championships, and the extent to which human competences have been developed both technically and administratively.
• Achievements: the Federation’s standard of national and worldwide accomplishments, such as breaking national and international records.
He announced that federation that wins gold medal in the Olympic and Paralympic Games will get one million riyals, 500,000 riyals for the silver medal, and 250,000 riyals for the bronze medal, and 100,000 riyals for qualification.