Saudi Arabia transfers remaining 25% stakes in four major clubs to PIF

RIYADH: Saudi Arabia’s Ministry of Sport said on Wednesday it had begun transferring the remaining 25 percent stakes in four of the Kingdom’s biggest football clubs to the Public Investment Fund, following the completion of the necessary regulatory procedures.

The transfer covers Al-Ittihad, Al-Ahli, Al-Hilal and Al-Nassr, with the boards of directors of the clubs’ nonprofit entities also being dissolved, the ministry added.

However, Al-Hilal said the club company’s current board, chaired by Prince Nawaf bin Saad, will remain in place after its term was extended for 90 days from July 17.

The club said the board would continue overseeing its operations, contracts and obligations, with any further developments to be announced in due course.

The move marks the second phase of the ownership transfer process and forms part of the Kingdom’s broader Sports Clubs Investment and Privatization Project.

The ministry has previously said the transition aims to support the transition to an ownership model that enhances the clubs’ investment appeal, strengthens corporate governance and supports their long-term sustainability and growth. 

The four clubs were among those transferred to a PIF-led ownership structure in 2023 as part of Saudi Arabia’s efforts to develop its sports sector and attract investment.