Newcastle’s PIF has acquired 75% of Saudi Arabia’s Big-4!

Rapid developments in Saudi Arabian football!

Specifically, the mighty one PIF (the country’s Public Investment Fund) -which owns 80% of its shares Newcastle– got 75% of the top four teams in the domestic league! It’s about her Al Nasr of Cristiano Ronaldothe Al Ittihad which is a breath away from its acquisition Karim Benzemathe Al Hilal who is pushing for his signature Lionel Messi having submitted a proposal of 1.2 billion euros, but also the 4th in championships (behind the three mentioned above), Al Shabaab. While, the remaining 25% will belong to non-profit organizations.

According to the relevant announcement issued by the PIF, the specific teams are going to be turned into companies in collaboration with the Ministry of Sports.

A move – initially unusual for Greek data – which, on the one hand, essentially confirms the reports that spoke of the Saudi Arabian government’s efforts to rapidly develop the domestic league (through a 20 billion euro grant). On the other hand, which – in combination with the acquisition of Newcastle and the resounding transfer strikes – proves its attempt to become prominent on the global football map, co-organizing the 2030 World Cup.

The related post:

As part of today’s announcement of the Sports Clubs Investment and Privatization Project, four Saudi clubs – Al Ittihad, Al Ahli, Al Nassr, and Al Hilal – have been transformed into companies, each of which is owned by #PIF and non-profit foundations for each club. pic.twitter.com/TNZcbIniUE

— Public Investment Fund (@PIF_en) June 5, 2023