24 Hrs
Source:
CNN Arabic
Saudi Arabia: Future Plans for Top Clubs
The Saudi Ministry of Sports announced the commencement of transferring 25% of the ownership of non-profit organizations affiliated with Al-Nasr, Al-Hilal, Al-Ittihad, and Al-Ahli clubs to the Public Investment Fund, following the dissolution of their boards of directors. This step is part of the second phase of the plan to transfer ownership of these clubs, aimed at enhancing their investment appeal, improving governance, and supporting their long-term sustainability and growth, in line with the objectives of the sports clubs investment and privatization project. The first phase took place in June 2023, when the Public Investment Fund owned 75% of the shares, while the non-profit organizations held 25%. The four clubs are among the largest in Saudi Arabia and have achieved numerous titles at both the local and international levels.
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