Sport Ministry transfers 25% of top clubs to PIF

Logo of Public Investment Fund

Saudi Arabia’s Ministry of Sport said today, Aug. 19, that, after completing the required regulatory procedures, it has begun transferring ownership of shares held by nonprofit entities to the Public Investment Fund. The shares represent 25% of the companies operating four clubs — Al-Ittihad Club Investment Co., Al-Ahli Club Co., Al-Hilal Club Co. and Al-Nassr Club Co. The boards of the nonprofit entities will also be dissolved.

The ministry said the move marks the second stage of the ownership transfer process for the four clubs, as part of the broader transition toward an ownership model designed to enhance their investment appeal.

The move also strengthens the foundations of corporate governance and supports the clubs’ long-term sustainability and growth, in line with the objectives of the Sports Clubs Investment and Privatization Project.

According to Argaam data, the Ministry of Sport announced in June 2023 that four Saudi sports clubs, Al-Ittihad, Al-Ahli, Al-Nassr and Al-Hilal, would be transformed into companies. Each would be owned by the Public Investment Fund and a nonprofit sports entity representing the respective club, as part of the Sports Clubs Investment and Privatization Project.