The Banking Executive Magazine- June 2026 Issue

The Balance Sheet of the Beautiful Game SPORT AS AN ASSET CLASS The growing financial importance of sport is not limited to one tourna- ment. It is part of a wider movement: sport is becoming an asset class. This does not mean sport is only about money. Its power comes pre- cisely from the fact that it is not only about money. It is identity, loyalty, competition, culture, memory, and belonging. But because those emo- tions are durable, transferable, and global, they create financial value. Investors have noticed. Football clubs, leagues, media rights, stadiums, sports-tech platforms, academies, fan-data businesses, streaming agreements, and event franchises increasingly attract capi- tal. Private equity looks at sport and sees scarcity. There are only so many elite clubs, only so many global leagues, only so many premium events, and only so many moments capable of commanding global at- tention. Sovereign wealth funds look at sport and see something even larger: a combination of financial return, national branding, tourism develop- ment, youth engagement, interna- tional visibility, and soft power. That is why the Gulf’s sports strategy cannot be reduced to sponsorship or prestige. Qatar 2022 was not simply an event. Saudi Arabia 2034 will not simply be an event. PIF’s growing role in international football is not simply a logo strategy. These are ele- ments of a broader repositioning of sport within national economic plan- ning. FIFA and PIF announced in May 2026 that PIF had become an official tournament supporter in North America and Asia for the 2026 World Cup, with FIFA describing sport as a priority sector for PIF. This is where Arab banks should pay close attention. If sport becomes an asset class, then it will require an ecosystem of finance. It will need project finance for ven- ues and surrounding infrastructure. It will need corporate banking for clubs, federations, event companies, and hospitality operators. It will need SME banking for merchants, suppli- ers, food providers, transport compa- nies, and retail businesses. It will need investment banking for acqui- sitions, partnerships, and media as- sets. It will need insurance and risk management. It will need digital pay- ment platforms. It will need private banking experiences. It will need capital markets. The question is not whether banks should sponsor sport. The question is whether banks un- derstand the balance sheet of sport. SPONSORSHIP IS NO LONGER ENOUGH For decades, banks have used sport sponsorship as a visibility tool. A bank places its logo on a national team shirt, a stadium board, a feder- ation campaign, or a television ad- vertisement. The goal is familiarity, trust, and emotional association. There is nothing wrong with this. ISSUE 210 JUNE 2026 the BANKING EXECUTIVE 23