Dr. Bahaa Helmy Writes: Sports Investment and Future Prospects

On 30/8/2018. Sports Investment and Future Prospects Sport is no longer merely an activity practiced for physical fitness, health and disease prevention, or watched for recreation and enjoyment of its arts. The countries of the world have preceded us in benefiting from it, whether nationally or internationally, to instill loyalty and belonging among citizens and fans and to unite them around the national flag, or in terms of economic, political and social returns. This has contributed to economic development in those countries, raised the level of sport and created stars with popularity, mass followings and global market value thanks to communications and information technology, opening the door to giant multinational companies and major investors pumping money into sports clubs, especially in football as the most popular game in the world, to make profits and gain fame while creating added value for the clubs invested in on the world's stock exchanges. It is true that the old sports law, which was a stumbling block to sports investment in Egypt, has been amended; it treated sports clubs as non-profit institutions dependent on State support, despite the investment nature of the components of the sports industry worldwide. However, sports investment in companies that include Egyptian clubs and teams is at the beginning of the road, keeping pace with the novelty of the new sports law – with the exception of a very limited number of private clubs – as the law allows the establishment of joint stock companies to carry out sports services of all kinds, with the possibility of offering their shares for public subscription and listing them on the stock exchange. Some appear to fear investment in, and the acquisition of, certain clubs and their teams by Arab or foreign investors, in light of the unfavorable image of the privatization carried out in a previous era; others resist this change for private interests or to preserve certain traditional jobs; and still others wish to hold on to their places at the head of the clubs as a social front or to control their policies in their current form and situation. The reality is that investment and good management are the pillars of progress for sports institutions and clubs, and the way to achieve a major economic and sporting renaissance at all levels, although some believe that sports investment has yet to be discovered. Sports investment, with its many fields and huge investments, some of which exceed the monetary reserves of more than one country, has long been known worldwide, but we were late in knocking on this door, as with many matters we aspire to master, so that we start where others left off. There is no doubt that the experiences of the countries that preceded us in this field, whether European or Arab, are before us; they operate according to governing national rules and controls and are distinguished by management and efficiency that mirror international systems, FIFA rules and globalization. We must benefit from those experiences by involving young people and giving them room for creativity and innovation, and by drawing on modern management and sports marketing based on knowledge and science. We have seen broadcasting rights worth billions of dollars, whose rules we expect to change within the next two years in light of the Gulf states', and especially the United Arab Emirates', control of some world-famous football clubs; there are investments in manufacturing sports products, equipment and clothing, the creation of a global market for the prices of players and stars, and the profits of sponsoring companies and the benefits they reap, such as Gulf airlines and others that now enjoy wide renown. In addition, we must consider what investment in Egyptian clubs can achieve and its positive impact on management and sport, and learn the foundations and pillars of making champions, which would open the way to forming a national team that matches and competes with the world's ranked national teams – something that seems set to happen in the near future, as long as hearts are sound and intentions are sincere in pushing sports investment forward, contributing to economic development and raising Egyptian sport internationally.