Football clubs in the Saudi Pro League are set to be privatized, with the remaining 14 clubs up for sale, announced the sports ministry. This move comes after a billion-dollar spending spree on foreign stars following the sale of four top teams.
Six more clubs from the 18-team league will be available for privatization next month, with the remaining eight clubs to follow at a later stage, according to a statement released on Wednesday.
Last year, Saudi Arabia’s Public Investment Fund (PIF), the sovereign wealth fund of the top oil exporter, acquired majority stakes in Al Hilal, Al Nassr, Al Ahli, and Al Ittihad football clubs. The four clubs have secured superstar signings such as Cristiano Ronaldo, Karim Benzema, and Neymar on lucrative contracts.
Led by the PIF-owned clubs, Saudi teams spent $957 million during last year’s summer transfer window, ranking second only to the English Premier League in expenditure.
Nevertheless, it led to an unbalanced season, notably marked by Al Hilal’s unprecedented record of 34 consecutive wins across all competitions.
In August, Al Zulfi, Al Nahda, Al Okhdood, Al Ansar, Al Orouba, and Al Kholoud were chosen for the next phase based on criteria such as operational readiness, financial stability, administrative capabilities, and sports facilities, according to the ministry.
