Prince Alwaleed's Al Hilal FC acquisition slated before December-end: Report

Logo of Al Hilal Club

The planned acquisition of Al Hilal Football Club (FC) by Prince Alwaleed bin Talal, Chairman of Kingdom Holding Co., has reached final stages, with an announcement expected before December-end, Asharq Al-Awsat newspaper reported, citing sources in the know.

Negotiations have been ongoing for about a year. Some minor details remain pending before he acquires 100% ownership of the club, they added.

Elsewhere, Al-Ittihad FC, 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 three months, and the same applies to Al-Nassr and Al-Ahli clubs, according to the sources.

They 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.