Saudi Arabia privatizes three football clubs
RIYADH — The Ministry of Sports announced Thursday the privatization of the three football clubs— Al-Ansar, Al-Kholood, and Al-Zulfi — under the Kingdom's broader sports investment and privatization initiative.
Ownership of the clubs has officially been transferred to private investors following the completion of regulatory procedures and company formation by the National Center for Privatization.
Al-Zulfi FC will now be owned by Najm Al-Salam Company, Al-Kholood by Harburg Group, and Al-Ansar by Awda Al-Baladi & Sons Company.
This follows the August 2024 announcement of six clubs slated for privatization: Al-Ansar, Al-Okhdood, Al-Kholood, Al-Zulfi, Al-Orouba, and Al-Nahda.
The three remaining clubs — Al-Nahda, Al-Okhdood, and Al-Orouba — are still under evaluation. Al-Nahda has completed its bid submission period, while the other two did not meet the qualification requirements.
Minister of Sports Prince Abdulaziz bin Turki Al-Faisal hailed the milestone, saying: 'With the leadership's support, we are witnessing a historic moment in Saudi sports. This step reflects the visionary leadership of Crown Prince Mohammed bin Salman.'
He also congratulated the clubs and welcomed the private sector as a key partner in driving forward the Kingdom's sports development.
The ministry emphasized that future privatizations will proceed based on club readiness, investor interest, and competitive tendering. It has opened the door for further expressions of interest via its official website, aiming to continue building a competitive, professional sports sector.
Privatization efforts are part of a larger push to raise operational efficiency, enhance governance, and attract private sector partnerships across Saudi sports, creating a modern sports industry aligned with the Kingdom's strategic goals.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Argaam
3 hours ago
- Argaam
Court orders Motoon Tower ex-tenant to pay SAR 13.8M: Derayah REIT
Derayah Financial Co., the fund manager of Derayah REIT Fund, said it received a notice from the fund's legal counsel in Kuwait regarding a final court ruling. The final ruling was issued by the Kuwait Court of Appeals in the case filed by the fund against Al Amalayah Co. for Hotels, the former tenant of Motoon Tower in Riyadh, the fund manager said in a statement to Tadawul. The ruling obliges Al Amalayah to pay SAR 13.76 million to the fund, representing unpaid rent for Motoon Tower. The impact will be reflected according to the outcome of legal and regulatory procedures and the collection of the amounts. In May, the company received a notice from the fund's legal counsel in Kuwait regarding a court ruling, which remains subject to appeal, in the case filed by the fund against the former tenant, Argaam data showed. The issued ruling obligated them to pay an amount of 13.76 million riyals to the fund.
Saudi Gazette
16 hours ago
- Saudi Gazette
Saudi Games 2025 postponed to prioritize athlete readiness for major events
Saudi Gazette report RIYADH — The Supreme Organizing Committee of the Saudi Games has announced that the fourth edition of the event, originally scheduled for 2025, will not take place this year, with new dates to be determined and announced at a later time. In a circular issued to all participating federations and sports clubs, the committee emphasized that the decision was made to ensure an optimal competitive environment for Saudi athletes and to allow national teams to better prepare for a series of major international sporting events in the latter half of 2025. Among the key events cited are Saudi Arabia's hosting of the 6th Islamic Solidarity Games in November, the World Games in China this August, and the 3rd Asian Youth Games in Bahrain in October. The committee reaffirmed its commitment to delivering a world-class sporting experience and supporting athletes in their preparations for these critical tournaments. The Saudi Games, considered the largest multi-sport national event in the Kingdom, were launched to develop the sports sector and promote grassroots participation.
Saudi Gazette
16 hours ago
- Saudi Gazette
Saudi Arabia and Syria sign energy cooperation agreement in Riyadh
Saudi Gazette report RIYADH — Saudi Arabia's Minister of Energy Prince Abdulaziz bin Salman met with Syria's Minister of Energy Eng. Mohammad Al-Bashir in Riyadh on Sunday to explore opportunities for bilateral cooperation across various energy sectors. During the meeting, both sides discussed ways to strengthen ties in petroleum supply, electricity, renewable energy, energy efficiency, and investment opportunities. The talks also covered knowledge exchange in developing projects, policies, and regulations in the energy sector, with a shared aim of supporting Syria's development efforts. Following the meeting, the two ministers signed a memorandum of understanding between the governments of Saudi Arabia and Syria to enhance cooperation in energy. The MoU outlines joint efforts in petroleum, gas, petrochemicals, electricity, power interconnection, and renewable energy.
