Saudi Arabia’s sovereign wealth fund has sold a majority stake in powerhouse club Al Hilal to a company controlled by Prince Alwaleed bin Talal, in a deal that values the record Saudi Pro League champions at 1.4 billion riyals ($373 million).
The Public Investment Fund (PIF) announced on Thursday the transfer of a 70 percent stake in Al Hilal to Kingdom Holding Company, the investment firm headed by the prominent Saudi billionaire and royal family member.
Prince Alwaleed, who previously helped facilitate the transfer of French striker Karim Benzema, hailed the acquisition as a milestone for Saudi sport. “Al Hilal is a national symbol and a source of pride for the Saudi people,” he said. “This acquisition expresses our deep belief in the power of sports as a unifying force and a catalyst for national development.”
He added: “By applying our global investment standards and cultivating strategic partnerships, we will unlock Al-Hilal’s full potential while preserving its history and identity.”
The move marks a partial withdrawal by the PIF from direct control of one of the four top Saudi clubs it took majority stakes in during 2023, alongside Al Ittihad, Al Nassr and Al Ahli. The fund retains a 30 percent holding in Al Hilal.
Yazeed A. Al-Humied, deputy governor and head of MENA investments at PIF, said the transaction fits the fund’s broader objectives. “PIF has set ambitious goals for the clubs, enabling them to become successful commercially and professionally and achieve long-term financial sustainability,” he stated.
“Today’s announcement aligns with PIF’s strategy to maximise returns and redeploy capital within the domestic economy.”636a2a
Al Hilal, boasting a record 21 Saudi league titles, has been a flagship of the kingdom’s ambitious push to elevate its domestic football through heavy investment in global stars.
The sale comes as the PIF continues to reshape its sports portfolio, which also includes a majority stake in English Premier League club Newcastle United acquired in 2021.
Analysts see the transaction as part of efforts to introduce private sector involvement while maintaining strong state influence over Saudi football’s development. No immediate changes to Al Hilal’s on-field operations or squad have been announced.
The deal was finalised amid separate reports of possible shifts in PIF funding for other high-profile sporting ventures, though the fund has not commented on those matters.
