Prince Alwaleed considers buying Al Hilal FC: sources

23/11/2016 Argaam

Prince Alwaleed bin Talal, chairman of Kingdom Holding Company, is considering buying Al Hilal Saudi Football Club as part of the kingdom's plans to privatize its sport clubs, Riyadh newspaper reported, citing unnamed sources.

 

The billionaire Prince plans to assign a team to study all aspects of the deal, including the business plan and financial projections, and whether they should build a new stadium or keep the current club headquarters, the sources said.

 

Earlier this week, the Saudi cabinet approved a decision to privatize sport clubs. The decision is expected to end the financial crises facing sports teams and clubs in the kingdom.

 

Riyadh-based Al-Hilal is currently managed by Marius Ciprian Panait and is considered to be one of the leading sport teams in the nation. 

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