In a strategic move to streamline spending and boost efficient development, Saudi Arabia’s Public Investment Fund (PIF) has announced the sale of football club Al Nassr and three other major clubs: Al Hilal, Al Ittihad, and Al Ahli. This decision comes just months after superstar forward Cristiano Ronaldo signed a new contract with Al Nassr.
Reports from Arab media indicate PIF is actively seeking investors to transfer ownership of these four prominent Saudi clubs. Since 2023, PIF has held a 75% stake in each club, with the remaining shares managed by the Saudi Ministry of Sports. This significant sale signals a major shift in Saudi Arabia’s approach to managing its football sector. PIF’s plan also includes divesting the 25% shares currently held by the Ministry.
Under PIF’s ownership, the Saudi Pro League, backed by one of the world’s largest investment funds with assets estimated at $941 billion, has seen an unprecedented influx of global football stars. High-profile players like Cristiano Ronaldo, Neymar, and Karim Benzema have joined, commanding substantial transfer fees and wages. In 2023 alone, Saudi Pro League clubs spent nearly $1 billion during the summer transfer window, showcasing their ambitious drive to elevate the national league. This push is a key component of the nation’s Vision 2030 strategy, aligned with Crown Prince Mohammed bin Salman’s broader vision.
The privatization of these four major clubs is part of Saudi Arabia’s extensive football privatization program, initially unveiled last year. This isn’t the first time Saudi clubs have transferred ownership to investors, both local and international. The Ministry of Sports confirmed last month that three other clubs have already finalized their ownership transfers. Al Kholood, for instance, became the first domestic club to sell a controlling stake to foreign investor Harburg Group, a US-based company. Al Zulfi and Al Ansar were subsequently sold to domestic investors. More recently, the Ministry announced it is also seeking investment for two additional Saudi Pro League clubs: Al Najma and Al Okhdood.
