Saudi Arabia's Public Investment Fund Completes Takeovers Of Al-Ittihad, Al Nassr And Al-Hilal

Saudi Arabia's top three clubs are now all owned by the country's Public Investment Fund. The PIF has completed takeovers of Al-Ittihad, Al Nassr and Al-Hilal.

Saudi Arabia's top three clubs are now all owned by the country's Public Investment Fund.

The PIF, which also owns Newcastle United in England's Premier League, has completed takeovers of Al-Ittihad, Al Nassr and Al-Hilal.

Those three clubs finished first, second and third respectively in this season's Saudi Pro League.

Cristiano Ronaldo joined Al Nassr in January, while champions Al-Ittihad are expected to sign Karim Benzema this summer.

Lionel Messi has also been linked with a possible move to Saudi Arabia, with Al-Hilal.

Should Benzema and Messi complete those proposed transfers this summer then the winners of 13 of the last 14 Ballon d'Or awards would all be playing for PIF-owned clubs in Saudi Arabia.

Cristiano Ronaldo has been playing in Saudi Arabia since January and could soon be joined there by some other icons of world soccer :: Saudi Sports Company SSC/Twitter/@ssc_sports

The PIF has also taken over Al-Ahli, who won the Saudi First Division League title this season.

A PIF statement read: "[The clubs] have been transformed into companies, each of which is owned by PIF and non-profit foundations for each club.

"PIF's ownership in the clubs' companies represent 75% in each club, while their respective non-profit foundations hold 25% ownership of each club.

"The transfer of the four clubs will unleash various commercial opportunities, including investment, partnership and sponsorships across numerous sports."

Outside of soccer, the PIF owns LIV Golf.

As part of today’s announcement of the Sports Clubs Investment and Privatization Project, four Saudi clubs – Al Ittihad, Al Ahli, Al Nassr, and Al Hilal – have been transformed into companies, each of which is owned by #PIF and non-profit foundations for each club. pic.twitter.com/TNZcbIniUE

— Public Investment Fund (@PIF_en) June 5, 2023