Saudi Arabia's Public Investment Fund (PIF) has been doing these rounds for some time. The acquisitions of LIV Golf and Newcastle United are the reason most sports fans pay attention to PIF. Reports indicate that PIF will make a big move that could affect Al Nassr, the club where Cristiano Ronaldo plays.
Let's dive deeper into the details of the important decision PIF is about to make. Let's see how PIF has linked up with Al Nassr and other Saudi Arabian clubs. Will PIF Take Over Some Saudi Pro League Clubs?
Saudi Arabia's PIF is one of the world's giant sovereign wealth funds. His net worth is around $600 billion and is changing the destiny of the country. PIF has created 77 companies operating in a variety of fields. They are now focusing on increasing their football club portfolio following the acquisition of Newcastle United. The reports link the PIF to investments in various football clubs around the globe.
In the near future, it will be announced that the ownership of a number of Saudi sports clubs will be transferred to a group of Public Investment Fund companies which they own in whole or in part and a few more days. we will have the first announcement from one of the biggest Saudi companies pic.twitter.com/i49j1hbbOv
- Saudi Project (@SaudiProject) June 3, 2023
However, recent reports from Saudi Arabia are linking PIF-owned companies to take over four Saudi Pro League clubs. It will be an impactful decision that will benefit Saudi clubs and the league. The Gulf nation is emerging as a strong candidate for the right to host the 2030 World Cup alongside Egypt and Greece. And PIF focusing on stadium development through one of its subsidiaries could be a step forward. PIF is already present in the Saudi Pro League through two subsidiaries. They have strategic partnerships with four major league clubs.
PIF Links with Cristiano Ronaldo and Al Nassr
Cristiano Ronaldo arrived in Saudi Arabia in January this year. He joined Al Nassr in a blockbuster deal that made him the highest paid athlete in the world. But do you know Al Nassr's connection to PIF? To create a world-class sports environment, PIF launched a Giga project called Qiddiya project. Last year, Qiddiya announced a 20-year strategic partnership with Al Nassr.
Saudi Arabia's 'Big Four' clubs today signed a 20-year sponsorship deal (Al Hilal & Al Nassr with Qiddiya, Ittihad & Al Ahli with Jeddah Central Development Company) worth £470 million. giant. pic.twitter.com/q90wdu2x18
– Lütfi Ibragimowiç Berdiwadabekow (@LotfiWada) February 20, 2022
The deal will help the club pocket $26 million a year. Meanwhile, Al Nassr is not just a club based in Riyadh. Qiddiya also has a similar arrangement for Al Hilal. PIF is also building a joint stadium with more than 40,000 seats in Riyadh for the two clubs. Another PIF subsidiary, Central Jeddah Development, has strategic partnerships with Al Ittihad and Al Ahli.
Now, reports from Saudi Arabia are linking a number of Saudi Arabian Professional Football League clubs with a complete takeover of PIF or its affiliates. With a slew of superstars linked to a move to Saudi Arabia and news of a takeover, football fans are eagerly awaiting a major national story.
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ub where Cristiano Ronaldo plays.
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