Ass: Saudi United team opens investment to the outside world, PIF may sell 4 club shares

"As" reported that Saudi League teams open investment to the outside world, and the Saudi Public Investment Fund (PIF) may sell shares in the four clubs, Riyadh Crescent, Riyadh Victory, Jeddah United and Jeddah Nationals.

Saudi Arabia entered the football market strongly in 2023. This year they successfully signed Ronaldo. PIF took the first key step, allowing domestic clubs to compete with other giants in the world. With the support of the "Vision 2030" plan promoted by Crown Prince Mohammed bin Salman, the four major families of Riyadh Crescent, Riyadh Victory, Jeddah United and Jeddah Nationals have completed privatization reforms.

The next step is to promote domestic private enterprises to participate in the football industry in depth. Oil giant Aramco entered the game through Hubairkudicia Club, starting from the Saudi Arabia second division to entering the top domestic league. The future ecological new city Neom has become a new giant. This future city planned in Tabuk Province, adjacent to the Red Sea and Egypt, has incorporated football investment into its strategic layout, and the new future sports city came into being. Meanwhile, Saudi National Privatization Center has just approved the two clubs, Najema Sports and Arkodo, to be taken over by Saudi companies.

Now Saudi Arabia has opened its doors to foreign capital, and Las Eternal Club has become the first team in the Saudi Kingdom with fully foreign capital. Harbor Group, which owns about 6% of the shares of La Liga Cadiz Club, enters the Middle East market through the third step of Saudi Arabia's plan to build the world's top football. The transaction is led by the Saudi Sports Ministry and the specific amount has not been disclosed. Ansar (Saudi B) and Zulfi (Saudi A) clubs were also acquired by Saudi companies. The former is classified as the most influential Abasco company in China, and the latter is taken over by Nojoom Al Salam.

Harbor Group immediately showed its influence after taking over. Cosmin Contra (former Alaves, Getafe and Atletico Madrid players) who coached Getafe, Alcocon and Romania, was just appointed by former management in early July. He was fired a few days later and was replaced by Habor's trusted Des Buckingham. The new American boss has also completely changed the team logo, giving a new dimension on the basis of retaining the traditional Saudi elements.

Saudi football is ushering in the changes of the times. PIF currently holds 75% of the shares of the four major giants, and the remaining 25% are held by fans through non-profit foundations. The club chairman is the superficial manager. Now Saudi Arabia is considering selling all the shares held by PIF (including 75% or even 100%), allowing private or foreign-funded enterprises (such as the Harbor Group case) to inject funds into the kingdom.

The Financial Times latest report pointed out that the budget excess and the decline in oil prices have had a negative impact on the Saudi economy, resulting in a reduction in investment in funds for super-large projects such as Neom. The football field is also affected, and the four major clubs are open to external financing.

Contrary to general perception, PIF does not provide unlimited funds to the club, and only provides start-up funds in the early stages of the Vision 2030 program to ensure the success of the football strategy. In the past two seasons, the injection of funds has been no longer a free grant, and the four major clubs must bear their own profits and losses. Therefore, the last Saudi League champion Jeddah United did not make a major signing this season, and the new Asian Championship champion Jeddah Nationals signed Milo for only 25 million euros.