Saudi Arabia’s sovereign wealth fund, the Public Investment Fund, will take control of four of the country’s most prominent football clubs, as part of the Sports Clubs Investment and Privatisation Project launched on Monday by Crown Prince Mohammed bin Salman.
The initiative, which aims to encourage private investment in the sports sector, is aligned with the kingdom’s Vision 2030 and will have a particular focus on football.
One of the project’s primary objectives is to position the Saudi Pro League as one of the top 10 football leagues in the world.
On Monday, the Public Investment Fund (PIF) confirmed it had acquired a 75 per cent stake in Al Hilal, Al Nassr, Al Ittihad and Al Ahli – the Saudi Pro League’s four ever-present members.
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