All Saudi Top-tier Football Clubs To Go Private: Ministry ...Middle East

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All Saudi Top-tier Football Clubs To Go Private: Ministry
Text size The Saudi Pro League’s remaining 14 football clubs are up for privatisation, the sports ministry said, after the sale of four top teams sparked a billion-dollar spending spree on foreign stars. Six more clubs from the 18-strong league are available for privatisation next month, followed by the other eight “at a later stage”, a statement said late on Wednesday. Saudi Arabia’s Public Investment Fund (PIF), the top oil exporter’s sovereign wealth vehicle, took a majority stake in Al Hilal, Al Nassr, Al Ahli and Al Ittihad last year. The four clubs have signed superstars including Cristiano Ronaldo, Karim Benzema and Neymar on eye-watering contracts. Saudi

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