Saudi football giant Al Hilal close to private takeover by Prince Alwaleed

Prince Alwaleed bin Talal is close to completing a landmark acquisition of Saudi football club Al Hilal, according to a report in the Saudi Gazette, in what would be a first-of-its-kind private takeover in the Kingdom’s top-flight football.

The newspaper cited sources who spoke to Asharq Al-Awsat, stating that negotiations between Prince Alwaleed, chairman of Kingdom Holding Company, and relevant stakeholders have been underway for nearly a year, with only minor details left to resolve. A final announcement is expected before the end of December if talks conclude as planned.

If completed, the deal would mark the first full private acquisition of one of Saudi Arabia’s leading football clubs since the launch of the country’s sports privatisation programme. Al Hilal is one of the Kingdom’s most successful clubs, with a long record of domestic league titles and continental honours, and is among four major clubs in which the Public Investment Fund currently holds stakes.

Prince Alwaleed nears Al Hilal takeover

The report said Prince Alwaleed is in talks to acquire the Public Investment Fund’s 75 per cent stake in the club. The remaining 25 per cent is reportedly owned by a Saudi non-profit organisation that receives the majority of its funding from Prince Alwaleed, according to the same sources.

The potential takeover would represent a significant milestone in Saudi Arabia’s efforts to restructure and commercialise its sports sector, a key pillar of Vision 2030. The privatisation drive aims to attract private capital, improve governance and boost the global competitiveness of Saudi clubs.

Progress on the sale of other major clubs has been slower, the Saudi Gazette reported. Al Ittihad, which is also currently owned by the Public Investment Fund, is not expected to exit government ownership in the near term, with negotiations involving multiple potential investors still ongoing. Sources said the process could take more than three additional months.

Similar timelines are expected for Al Nassr and Al Ahli, with no immediate breakthroughs reported in their privatisation discussions. Meanwhile, talks surrounding the potential sale of Al Shabab and Al Ettifaq have yet to reach advanced stages, and discussions could extend into next year, according to the report.

Prince Alwaleed is one of the Kingdom’s most prominent investors, with holdings spanning media, hospitality, finance and technology. His reported move to acquire Al Hilal in full would place one of Saudi Arabia’s most high-profile sporting assets under private ownership at a time of rapid transformation in the country’s football landscape.