Football star Rio Ferdinand takes stake in Saudi sports app
The Ferdinand Group has taken a multi-million dollar stake in Koora Break
The deal is one of the first by foreign investors in Saudi Arabia's sports industry since the Kingdom started investing huge sums to attract global tournaments like the FIFA World Cup 2034 and famous players like Cristiano Ronaldo to the kingdom.
UK football star Rio Ferdinand's The Ferdinand Group is investing in Saudi Arabia-based sports platform Koora Break to help it expand across Europe and Asia.
"Koora Break is a great example of how the sports and tech ecosystems are producing homegrown champions," Ferdinand said in the statement. The company is helping drive "appetite for more coverage of football and sports across Saudi Arabia and the wider region, which will grow hugely ahead of World Cup 2034."
The Ferdinand Group, a sports and entertainment investment company established by the former Manchester United captain, has taken a multi-million dollar stake in Koora Break, according to a statement, which didn't provide specific financial terms.
The deal aims to give Koora Break funding to expand beyond Arabic language content and build an audience outside the Middle East, while also helping Ferdinand Group expand its presence in the region.
Since its establishment in 2022, Koora Break has grown to attract 800 million monthly views.