Saudi Sports Ministry Dissolves Boards of 4 Non-Profit Clubs

The Saudi Sports Ministry announced today, Wednesday, the initiation of procedures to transfer ownership of shares owned by non-profit organizations in four major clubs to the Public Investment Fund.

The move includes clubs Al-Ittihad, Al-Ahli, Al-Hilal, and Al-Nassr, where non-profit institutions represent 25% of the shares of the four clubs' companies.

The ministry has decided, in conjunction with the transfer of ownership, to dissolve the boards of non-profit organizations for the affected clubs, following the completion of the regulatory procedures related to the new phase.

This step marks the second phase in the restructuring of ownership for the four clubs, aiming to develop an investment model and enhance governance and financial and administrative sustainability.

The new measures come as part of the investment and privatization project for sports clubs, focusing on increasing the appeal of clubs to investors and supporting their growth potential in the coming years.

Prince Alwaleed bin Talal previously announced his investment in Al Hilal, acquiring a 75% stake in the club, as part of the new changes in ownership structure.

Attention is also turning to the future of Al-Ittihad and Al-Nassr, amid reports of anticipated investment activities, including interest from a Saudi-European alliance in investing in Al-Nassr during the current season.

In the competition, the quartet from the Public Investment Fund began their journey in the Roshen League with mixed results; Al Hilal defeated Al Faisaly, Al Nassr overcame Al Fateh, and Al Ahli triumphed over Al Diriyah, while Al Ittihad drew with Al Khulood.