His Highness Prince Faisal bin Fahad bin Abdullah Al Saud, founder of a Saudi-Arabian based sports management firm called F6, and George Gillett, co-owner of Richard Petty Motorsports, have inked a Memorandum of Understanding to enter an “exclusive commercial collaboration” between F6, Gillett’s Liverpool Football Club and Richard Petty Motorsports.

A portion of the deal will include the development of Richard Petty racing schools and a NASCAR type racing circuit in Saudi Arabia and other areas of the Middle East.

"The Middle East sport market has immense growth potential as eager fans in the region demand access to more diverse, higher caliber competition,” Gillett said, according to a PR Newswire press release. “I am delighted, enthusiastic, and honored to have the opportunity to partner with such a visionary in His Highness Prince Faisal.”

His Highness also commented on the strategy of the partnership.

"George Gillett is at the helm of some of the most powerful and celebrated sports brands in the world,” he said. “F6 is energized about the strategic partnership with his groups and seeks to lead the way with our investment partners in identifying the brands, personalities, facilities, and media that will catalyze the evolution of sporting experiences in the Kingdom and beyond, thereby introducing thousands of quality employment opportunities within Saudi Arabia."

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