Public Investment Fund, Al-Ittihad, Al-Nassr, Al-Ahli and Al-Hilal
Wednesday
Saudi Arabia’s Ministry of Sport has begun transferring 25% stakes held by non-profit institutions in four major club companies to the Public Investment Fund. Al-Ittihad also announced the immediate departure of president Fahd Sindi from his role.
The change moves the clubs toward a new ownership structure while existing boards at Al-Hilal, Al-Nassr and Al-Ahli continue temporarily for 90 days. Al-Ittihad instead removed its president as the wider statutory ownership transition proceeds.