Will signing expensive footballers like Cristiano Ronaldo break Saudi Arabia’s finances? No, because the total spending is still relatively small, according to Bloomberg Economics. But sports outlays and the construction of futuristic cities such as Neom increase import expenditures, thus requiring a higher oil price to pay for them.
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Cristiano Ronaldo's $313 million contract shows why Saudi Arabia is cutting production, making it time to worry about oil: Chanticleer
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Cristiano Ronaldo: Saudi Arabian club Al-Nassr table 'best offer' for former Manchester United forward, Football News