Riyadh: The Ministry of Sport announced on Wednesday that it has initiated the transfer of shares, previously held by non-profit foundations, in four prominent football clubs-Al-Ittihad, Al-Ahli, Al-Hilal, and Al-Nassr-to the Public Investment Fund (PIF). This transfer involves 25% of the shares in each of the clubs and follows the completion of necessary regulatory procedures. Additionally, the ministry has started the process of dissolving the boards of directors of these foundations. According to Saudi Press Agency, this development represents the second phase in the shift of ownership for the four clubs. The initiative is part of a broader transition towards an ownership model aimed at enhancing investment appeal, strengthening corporate governance, and supporting the clubs' long-term sustainability and growth. This aligns with the objectives outlined in the Sports Clubs Investment and Privatization Project.
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