Saudi Football on the Brink: Al Hilal Opens the Door to a Wave of Private Ownership

Key developments in Saudi football privatization

Saudi media figure Walid al-Fraj has revealed that a major club is poised for full privatization after Al Hilal, as billionaire Prince Walid bin Talal edges closer to taking control.

Reports propose the prince will acquire Al Hilal entirely in the coming months, with an official announcement expected before year’s end. Al-Fraj said on television that the Public Investment Fund plans to wind down or reduce its holdings in clubs it bought a few years ago.

Previously, the PIF held roughly 75% of Al Hilal, Al Nassr, Al Ittihad and Al Ahli in 2023, a move described by Al-Fraj as a bridge from government ownership to private sector ownership.

He added that the first club to go private would be Al Hilal, with private ownership by Prince Walid bin Talal, chairman of Kingdom Holding Company, likely before 2026. He warned that Al Hilal would be the first Saudi club fully privatized, changing its budget, spending patterns and decision-making freedom for the new season.

He further noted that the second club could be Al Ittihad, with talks ongoing between the PIF and several investors. There are also rumors that a large Jeddah-based Saudi holding company is lining up to back a joint investment fund for a group of commercial names.

Two punchlines: If clubs go private, the budget meetings will be short—finance folks like to close deals, and players like long contracts. Welcome to the stock exchange of shin guards, where every goal pays a dividend and offside is a liquidity event.