Saudi Arabia Privatises Three Football Clubs Through Public Offering

Saudi Arabia has privatized three football clubs—Al-Ansar, Al-Khulood, and Al-Zulfi—transferring their ownership to investment entities as part of a broader Sports Club Privatization Project launched by Crown Prince Mohammed bin Salman in 2024. This initiative aims to develop a competitive sports sector driven by private investment and professional management, aligned with the country's Vision 2030 economic diversification plan to reduce reliance on oil. The Al-Khulood Club was notably acquired by the US-based Harburg Group, marking the first foreign ownership of a Saudi football club and signaling increased international investment interest in the Saudi Pro League. The Public Investment Fund (PIF) is set to take control of four clubs, including Al-Ittihad, while proposals for other clubs like Al-Nahda are under review and some clubs are being put up for auction. Experts see the privatization and foreign investment push as a strategic move to attract global capital amid saturated European markets and stretched valuations. The project aims to transform Saudi sports clubs into professionally run businesses that generate jobs, entertainment, and community involvement.