PIF takes control of Al Hilal, Al Nassr, Al Ittihad and Al Ahli in Saudi Pro League

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. The remaining 25 per cent will be controlled by a non-profit organisation. The Saudi Ministry of Sport said each club board will comprise seven members: Five appointed by PIF and the other two by the non-profit.

Hilal, the country’s most successful club, are 18-time Saudi league winners and four-time Asian champions – both a record. Their Riyadh rivals, Nassr, are nine-time champions. They finished runners-up in this season’s Saudi Pro League having signed Cristiano Ronaldo in December in reportedly the most lucrative player deal in football history.

Ittihad pipped Nassr to the title last month, to be crowned Saudi champions for the first time in 14 years, and ninth overall. Meanwhile Ahli, their fellow Jeddah club, earned promotion to the 2023/24 Saudi Pro League having last year been relegated for the first time in their history.

On Monday, PIF said it was “working closely with the Ministry of Sport on all the necessary regulatory procedures to complete the clubs’ transfers to their new