5 days ago
Three Saudi Clubs Privatized Through Public Offerings
Rabat – Saudi Arabia has announced that three of their football clubs – Al-Ansar, Al-Kholood, and Al-Zulfi – were privatized on Thursday through a public offering.
The Saudi Ministry of Sports said that the ownership of these clubs has been transferred to investment entities, adding that a total of six clubs would be offered up for privatization.
Al-Zulfi Club ownership was transferred to Nojoom Al-Salam Company, Al-Kholood Club is now owned by the Harburg Group, and Al-Ansar Club was acquired by Oudah Al-Baladi & Sons Company.
While Al-Nahda's proposals are still under review by the ministry, Al-Okhdood and Al-Orobah will be put up for auction, allowing investors to submit their proposals.
The Gulf country's Sports Club Privatization Project was launched by the Crown Prince Mohammed bin Salman in 2024, and was approved by the Saudi Cabinet in the same year. The aim is to develop a strong, competitive sports sector driven by private investment and professional club management.
This move aligns with Saudi Arabia's new 2030 economic vision plan , to diversify its economy by promoting investments in new sectors and reducing the overreliance on oil.
'The project includes two main tracks: the first is for major companies and development entities to invest in sports clubs, in return for transferring ownership of the clubs to them. The second track is offering a number of sports clubs for privatization,' the sports ministry said on official website.
This project is designed to transform the Saudi sports clubs into a professionally run businesses that attract investment, operate independently, and positively impact society through job creation, entertainment, and community involvement. Tags: Al-AnsarAl-KholoodAl-Zulfisaudi football
