Saudi Arabia privatizes three local football clubs through public offering
Ownership of these three clubs has been transferred to investment entities, it said, without giving any financial details.
For more Saudi sports news, visit our dedicated page.
The ownership of Al Zulfi Club will transfer to Nojoom AlSalam company, Al Kholood to Harburg Group, and Al Ansar to the Awdah AlBiladi 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.
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