Saudi Arabia begins transferring ownership of 25% of the shares of Al-Nasr, Al-Hilal, Al-Ittihad and Al-Ahly clubs to the Public Investment Fund

The Saudi Ministry of Sports announced, on Saturday, the start of transferring ownership of shares of non-profit institutions, which represent 25% of the shares of Al-Nasr, Al-Hilal, Al-Ittihad, and Al-Ahly companies, to the Public Investment Fund. The ministry said, through its account on the X platform, that it was decided to dissolve the boards of directors of the non-profit institutions affiliated with the four clubs. The Saudi Ministry of Sports added: “This step represents the second stage of transferring ownership of the four clubs, as part of completing the transformation process towards an ownership model that enhances their investment attractiveness, consolidates the foundations of corporate governance, and supports their long-term sustainability and growth, in line with the objectives of the investment and privatization project for sports clubs.” The first stage was in June 2023, when the Saudi Public Investment Fund then owned 75% of the shares of each club, while non-profit institutions owned 25%. Al-Nasr, Al-Hilal, Al-Ittihad and Al-Ahly clubs are among the largest clubs in Saudi Arabia, and all of them have succeeded in achieving several titles at the local and foreign levels.