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Saudi Arabia may buy the UEFA Champions League, according to reports

Saxo Bank: Saudi Arabia may buy the UEFA Champions League.

After oil prices reach $150 per barrel in mid-2024, driven by higher-than-expected demand, Saudi Arabia is set to acquire the UEFA Champions League and eventually establish a World Champions League, according to 'shocking predictions' from Saxo Bank.

The rapid rise in oil prices boosts Saudi Arabia's radical economic restructuring, aimed at reducing dependence on oil revenue and transforming the country into a hub for tourism, leisure, and entertainment. Analysts note that this transformation gains momentum as oil prices reach approximately $150 per barrel by mid-year, fueled by demand surpassing expectations.

The analysts write, 'The green transformation is diminishing in the face of rising costs, and OPEC+'s control over supply is contributing to this trend.'

According to their assessment, this scenario could unfold due to the diminishing impact of the green transformation amid rising costs, coupled with OPEC+'s effective control over the supply.

With oil revenue on the rise, Saudi Crown Prince Mohammed bin Salman, with the support of FIFA, is reportedly making a successful attempt to acquire the UEFA Champions League, one of the most prestigious football tournaments in the world.

This move could be followed by a transformation of the league into a global club competition.

Published by Patrick Jane