RIYADH — The Ministry of Sports announced on Wednesday the commencement of the transfer of shares held by non-profit organizations, representing 25 percent of the shares in the four clubs — Al-Ittihad, Al-Ahli, Al-Hilal, and Al-Nassr — to the Public Investment Fund (PIF).The boards of directors of these organizations have also been dissolved. This move followed the completion of the necessary regulatory procedures.This marks the second phase of the transfer of ownership of the four clubs and forms part of the efforts to complete their transition to an ownership model that enhances their investment appeal, strengthens corporate governance, and supports their long-term sustainability and growth.This was in line with the objectives of the project for investment and privatization of sports clubs.
RIYADH — The Ministry of Sports announced on Wednesday the commencement of the transfer of shares held by non-profit organizations, representing 25 percent of the shares in the four clubs — Al-Ittihad, Al-Ahli, Al-Hilal, and Al-Nassr — to the Public Investment Fund (PIF).The boards of directors of these organizations have also been dissolved. This move followed the completion of the necessary regulatory procedures.This marks the second phase of the transfer of ownership of the four clubs and forms part of the efforts to complete their transition to an ownership model that enhances their investment appeal, strengthens corporate governance, and supports their long-term sustainability and growth.This was in line with the objectives of the project for investment and privatization of sports clubs.
