Cristiano Ronaldo’s Al Nasr is reportedly among the clubs that have been sold by the Saudi Arabian public investment fund. PIF is said to be trying to sell four aspects as part of its plan to steal cash and reduce spending by expanding the profile of Saudi Arabian professional leagues over the past two years.
Many top players have been seduced away from Europe and the Middle East, with Joan Felix, Kingsley Coman and Pierre Emerick Aubameyang being one of the most notable names.
However, PIF is currently trying to cut spending. They currently own 75% of the four largest clubs across the country, with the Saudi Arabian Ministry of Sports owning the rest, but these majority interests are currently on sale.
Saudi journalist Ahmen al-Aziran reports that al-Nasr, al-Ittihad, al-Ali and al-Hilal are all for sale. There is already growing interest in each club, with the top stars in the Saudi Arabian professional league looking enthusiastically at how the saga pans out.
PIF has raised the competitive profiles with their favourable spending, and fresh funds and infusions of independent ownership from the organization can shape the league into even more competitive events.
Al Giral has emerged as the most popular outfit so far, with many famous faces already among their teams, including Darwin Nunes, Joan Cancero and Theo Hernandez. Billionaire Prince Al Wereed bin Taral has also expressed interest in former Sheffield United owner Prince Abdullah bin Mozad.
The Saudi Arabia plans to continue this summer with cash, but a new “Finance Performance Improvement Project” has been introduced to monitor the continuity of each club. Regulations aim to ensure competition is sustainable and continue the upward trajectory on the pitch and financially.
The statement stated: “The project focuses on monitoring the implementation of approved budgets, managing operational spending, and streamlining. These efforts aim to minimize the risk of future financial liabilities and enhance the club’s ability to achieve financial stability and sustainable growth within a more professional operating environment.
“These development measures demonstrate the Ministry of Sports’ commitment to enabling clubs to operate within a stable and integrated financial framework. This approach supports the growth of the sports sector and demonstrates that in collaboration with the goals of the Saudi Arabia Vision 2030, we will create a professional sports environment rooted in governance, transparency and sustainability.”
