Prince Alwaleed to acquire Al Hilal FC for SAR 7.5B: Report

Logo of Al Hilal Club

The acquisition of Al Hilal Club by Prince Alwaleed bin Talal bin Abdulaziz, Chairman of Kingdom Holding Co., has reached final stages, with an announcement expected before the end of December, sources familiar with the matter said.

According to Asharq Al-Awsat newspaper, negotiations have been ongoing for about a year, and only minor details remain before Prince Alwaleed bin Talal acquires 100% ownership of the club.

Al-Ittihad Club, which is owned by the Public Investment Fund (PIF), is not close to an exit by the fund due to ongoing negotiations with several investors, including Abdullah Saleh Kamel, his brother Mohie, and others. The process may require more than the next three months, and the same situation applies to Al-Nassr and Al-Ahli clubs, according to the sources.

The sources also stressed that there are no new developments regarding the privatization of Al-Shabab and Al-Ettifaq clubs, as the offers have not reached an advanced stage and still require a long period, potentially extending until the end of next year.