Sport Clubs Company Announces Obtaining Shariah-Compliant Financing Facilities (Tawarruq) Amounting to SAR 70 million

AI Summary

Sport Clubs Company obtained SAR 70 million in Shariah-compliant financing (Tawarruq) from Saudi Awwal Bank (SAB).
The financing has a five-year duration, including a one-year grace period for the first year.
Funds are allocated to finance capital and investment expenditures for the company’s expansion into building new clubs.
The facility is secured by a promissory note issued by the company for the full value of the financing.

Element List	Explanation
Date of obtaining the funding	2026-06-24 Corresponding to 1448-01-09
Financing entity	Saudi Awwal Bank (SAB)
Financing amount.	SAR 70 million
Financing duration.	Five years, including a one-year grace period for the first year
Guarantees offered for the financing	A promissory note issued by the Company for the full value of the financing facilities
Financing objective	To finance the capital and investment expenditures for the Company’s future expansions in building new clubs
Related Parties	None