On Thursday, Saudi Arabia’s sovereign wealth fund revealed the sale of its majority share in the Saudi Pro League football club Al Hilal, which features French striker Karim Benzema.
The Public Investment Fund (PIF), also the owner of English Premier League club Newcastle United, offloaded 70 per cent of Al Hilal to Kingdom Holding Company (KHC), an enterprise led by Prince Alwaleed bin Talal, a billionaire and member of the Saudi royal family.
The transaction values Al Hilal’s share capital at 1.4 billion Saudi riyals (around $373 million).
This sale comes amidst ongoing scrutiny of the PIF’s investments in LIV Golf, with suggestions that the breakaway tour could be facing collapse due to potential withdrawal of financial backing from Saudi Arabia.
“Al Hilal is a national icon and a source of pride for the people of Saudi Arabia,” Bin Talal remarked in an official statement.
“This acquisition reflects our strong belief in the role of sports as a means of unity and a driver for national development.”
“By implementing our global investment standards and nurturing strategic partnerships, we aim to realise Al Hilal’s full potential while honouring its rich history and identity.”
The PIF, a substantial public fund overseen by Crown Prince Mohammed bin Salman, took a majority stake in the Riyadh club in 2023, along with three other teams in Saudi Arabia’s league—Cristiano Ronaldo’s Al Nassr, Al Ahli, and Al Ittihad—as part of the kingdom’s strategy for sports investment.
This financial boost allowed Al Hilal to recruit numerous international players, including Brazilian star Neymar, who left the club in January 2025.
Keen to strengthen their squad, Al Hilal most recently signed Benzema after he parted ways with Al Ittihad.
“This sale is consistent with PIF’s strategy to optimise returns and reinvest capital within the local economy,” read the PIF statement.
“This approach supports PIF’s broader agenda to foster development and diversification in Saudi Arabia.”
“PIF is seizing opportunities to make a transformative contribution to the Saudi sports sector, aiming for positive, sustainable outcomes.”
The PIF also noted that it had “spearheaded the transformation of Al Hilal… enabling it to achieve remarkable growth in value.”
“As a continuing shareholder, PIF will remain committed to supporting Al Hilal’s path to growth.”
Compiled by SportArena.au
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