In a significant shift within the Saudi Pro League's ownership landscape, the kingdom's sovereign wealth fund, the Public Investment Fund (PIF), has sold its majority stake in powerhouse club Al-Hilal. The move marks a new chapter for the club, which has become a global football destination, currently featuring French superstar Karim Benzema.
The PIF, which also owns Newcastle United in the English Premier League, divested a 70% stake to the Kingdom Holding Company (KHC), chaired by billionaire Prince Alwaleed bin Talal. The transaction values Al-Hilal's share capital at a substantial 1.4 billion Saudi riyals, approximately $373 million.
This sale follows the PIF's initial 2023 acquisition of majority stakes in four top Saudi clubs—Al-Hilal, Al-Nassr, Al-Ahli, and Al-Ittihad—as part of a national strategy to elevate the league's profile. That capital influx famously allowed Al-Hilal to secure global talents like Brazilian icon Neymar and, more recently, Karim Benzema, who joined after terminating his contract with Al-Ittihad.
Prince Alwaleed bin Talal hailed the acquisition, stating, "Al-Hilal is a national symbol and a source of pride. This acquisition expresses our deep belief in the power of sports as a unifying force and a catalyst for national development." He emphasized plans to apply global investment standards to unlock the club's full potential while honoring its storied history.
For its part, the PIF framed the divestment as a strategic redeployment of capital, aimed at maximizing returns and further driving the diversification of the Saudi economy. The fund stated the move supports its "wider efforts to drive the development" of the nation's sports sector, suggesting a continued, albeit reshaped, commitment to football investment.
The transaction arrives amid broader scrutiny of the PIF's sports investments, including reports of challenges facing its LIV Golf venture. For fans and observers, the deal underscores the dynamic and evolving nature of football ownership in Saudi Arabia, as the league continues its ambitious quest to become a major player on the world stage.