Saudi-owned Group Takes Over Four of Country’s Biggest Football Clubs

PIF, which took over Newcastle in October 2021 with 80% of the shares, announced the big news on June 5 that they had taken over four of the country’s big clubs. And in the amount of holding shares 75%, both Al Ittihad, the recently won Pro League team It is said to be the new agency of former Real Madrid striker Karim Benzema, Al Hilal, who is interested in grabbing Lionel Messi, the Argentine national team star, Al L Ahli, the last two league division champions, and Al Nasser, the agency of Cristiano Ronaldo, the Portuguese national team striker.

Still, the PIF states that the country’s four clubs will have separate boards, as well as executive officials, so far along the country’s structure. Saudi Arabia’s top-flight soccer teams are owned by the state’s Ministry of Sports. Until recently, all were transformed into private companies instead.

“Today we announce that four Saudi clubs, Al Ittihad, Al Ahly, Al Nasser and Al Hilal, have been privatized. Each club is owned by PIF and is owned by a not-for-profit foundation.

“The privatization of the four clubs will open the way for marketing and investment. partnership and various sponsors”

The move is believed to be being monitored by Football Federation Internationale (FIFA) as the takeover of Salikadong, which the Premier League has approved, is legal after it was confirmed that the Saudi government would not Take control of the gaming club The suspicion was raised when the case was brought to US court in February. In the past, after documents indicated that Yasir Al Rumayyan, the president of the Magpies, had a position as a minister in the Saudi government.

However, the Premier League declined to comment on whether they would open an investigation into the documents.