Saudi Public Investment Fund announces acquisition of top Saudi football clubs: Al-Ahly Jeddah included

Dubai, United Arab Emirates (CNN) – Prince Abdulaziz bin Turki Al-Faisal, the Saudi Minister of Sports, forgot to mention the name of Al-Ahly Jeddah club, during the announcement of the Saudi Public Investment Fund’s acquisition of some “Roshen” league clubs.

The investment and privatization project for sports clubs in the Kingdom of Saudi Arabia was launched on Monday, which included transforming Al-Hilal, Al-Ittihad, Al-Nasr and Al-Ahly Jeddah clubs into companies, each of which is owned by the Public Investment Fund, and non-profit sports institutions for each club.

This project comes within the “Saudi Vision 2030”, with the aim of making the local league one of the ten strongest in the world, and raising its marketing value to 8 billion Saudi riyals (approximately $2 billion) and other goals.

Upon revealing the acquisition client, the Minister of Sports said: “I am pleased to announce that the Public Investment Fund has invested in 4 clubs by converting them into companies owned by the fund and a non-profit institution for each club, and the clubs are: Al-Ittihad, Al-Hilal and Al-Nasr,” without mentioning the name of Al-Ahly Jeddah Club. .

This was followed by a clarification from Prince Abdulaziz bin Turki Al-Faisal about not mentioning the recently promoted club in the League of Lights, saying: “The brothers alerted me that I did not mention Al-Ahly Club, and this is out of my love for Al-Ahly Club and because it is in the heart.”

And he continued: “I would like to clarify that the clubs that will be transferred to the Investment Fund are Al-Ahly, Al-Ittihad, Al-Nasr and Al-Hilal, just to confirm that.”