- Saudi Arabia's Public Investment Fund (PIF) has sold a 70 per cent stake in Saudi Pro League club Al-Hilal to Kingdom Holding Company, led by Prince Alwaleed bin Talal.
- The deal values Al-Hilal's share capital at 1.4 billion Saudi riyals (£276.1 million) and is contingent on meeting certain conditions and receiving regulatory approvals.
- This sale comes amid scrutiny over the PIF's investment in LIV Golf, with reports suggesting the fund will pull its funding from the rebel golf league after significant losses.
- Prince Alwaleed bin Talal stated that the acquisition reflects a deep belief in sport's power as a unifying force and a catalyst for national development.
- The PIF, which also owns clubs like Al-Nassr, had been a principal shareholder in Al-Hilal since July 2023 as part of a wider initiative to accelerate the development of the Kingdom's sports sector.
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