Ministry announces privatization of all top-tier Saudi football clubs
Last year, the Public Investment Fund (PIF) of Saudi, occupied a majority stake in the big four Saudi Pro League (SPL) clubs Al Hilal, Al Nassr, Al Ahli and Al Ittihad
After generating a major revenue by privatizing the four top football clubs of Saudi Arabia, the sports ministry has decided to do the same with all the remaining 14 top-tier football clubs. According to the statement issued by the sports ministry on Wednesday, six clubs will be available for privatization by next month and the other eight will be featured in the market “at a later stage”.
Last year, the Public Investment Fund (PIF) of Saudi, the top oil exporter’s wealth fund, occupied a majority stake in the big four Saudi Pro League (SPL) clubs Al Hilal, Al Nassr, Al Ahli and Al Ittihad. This move changed the whole picture of World football by signing the top players at a jaw-dropping price.
The four clubs signed various big names in world football, but Al Nassr initiated the move by signing the GOAT ( Greatest Of All Time) Cristiano Ronaldo. This move changed the whole picture of Saudi football as Cristiano brought a huge viewership to the SPL. Following this move, Al Hilal signed a deal with Brazillian star Neymar and Al Ittihad signed the 2022 Ballan d’Or winner Karim Benzema.
Major Transfers by Leading Football Clubs
These transfers made the Saudi League the second top spender in the summer transfer window following the English Premier League. SPL led by the big four owned by PIF, spent $957 million.
The ministry has selected Al Zulfi, Al Nahda, Al Okhdood, Al Ansar, Al Orouba and Al Kholoud for the next round based on their “operational readiness, financial health, administrative capabilities, and athletic facilities.”
It highlighted that the previous privatization has led to “significant commercial revenue growth”, with the target now raised to 1.8 billion Saudi riyals ($480 million) a year.
“This (privatisation) initiative showcases the commitment to accelerating the transformation of the sports sector,” the ministry stated.
Saudi is heavily investing in sports in a move to reshape its steady image in sports and attract tourists from around the world. Saudi Arabia already hosts F1 races and world heavyweight boxing fights. It is also the sole bidder 2034 Football World Cup.
Pep Guardiola, Manager of Manchester City, made a statement referring to Saudi money last year. He said Saudi Money has “completely changed the market” for football transfers.
However, Some critics, including fans and football pundits have constantly blamed Saudi Money, referring to it as the “Oil Money” for spoiling the game of football.
You might also be interested in – How can the Indian football team Qualify for FIFA World Cup‘26?
