Saudi Pro League clubs transfer shares to PIF
The Saudi Ministry of Sports announced the commencement of transferring ownership of shares in non-profit organizations representing 25% of the shares of the four major clubs in Saudi Arabia (Al-Ittihad, Al-Ahli, Al-Hilal, and Al-Nasr) to the Public Investment Fund. Additionally, their boards of directors will be dissolved as part of the second phase of the club ownership transformation plan, aimed at enhancing their investment attractiveness and achieving sustainable governance. This step is part of a reform strategy to enable the clubs to grow and sustain themselves amid fierce competition in the Kingdom's league, where the clubs started the season with wins and draws.
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