Saudi Arabia privatises three local soccer clubs through public offering
DUBAI - Saudi Arabia announced on Thursday the privatisation of three soccer clubs, Al-Ansar, Al-Kholood, and Al-Zulfi, through a public offering, the sports ministry said.
Ownership of these three clubs has been transferred to investment entities, it said, without giving any financial details.
The ownership of Al-Zulfi Club will transfer to Nojoom AlSalam company, Al-Kholood to Harburg Group, and Al-Ansar to the Awdah Al Biladi And His Sons company.
As for other clubs, the ministry confirmed it has completed the bidding stage for Al-Nahda Club and is reviewing offers, with an extension granted for further proposals.
Sport is one of the pillars of Saudi Arabia's Vision 2030 economic diversification plan that seeks to build new industries and create jobs. REUTERS
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