Saudi Arabia’s Public Investment Fund is selling a majority stake in Al Hilal Football Club to Prince Alwaleed bin Talal, in a $373m transaction that advances the kingdom’s sports privatisation strategy.

Kingdom Holding will acquire a 70% stake in one of Saudi Arabia’s most prominent football clubs, while PIF will retain a minority position as it gradually reduces direct ownership in domestic teams. 

The announcement confirms an earlier Bloomberg report that Prince Alwaleed was in discussions with Al Hilal to purchase the stake. 

PIF will move from direct control to enabling private capital participation after achieving its initial objectives of boosting commercial revenues, sponsorship income, and global visibility across the Saudi Pro League.

The sovereign wealth fund has been central to transforming the league into a globally recognised competition and has invested heavily in attracting international talent and building commercial infrastructure, laying the groundwork for private sector involvement.

“PIF has set ambitious goals for the clubs, enabling them to become successful commercially and professionally and achieve long-term financial sustainability,” said Yazeed A. Al-Humied, Deputy Governor and Head of MENA Investments at PIF.

The sale also aligns with Saudi Arabia’s wider economic diversification agenda, as the country prepares to host the 2034 FIFA World Cup and continues to open its sports sector to international and institutional investors.

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