Saudi Arabia's Public Investment Fund (PIF) has acquired 75% stakes in four leading football clubs, including Al-Nassr, where Cristiano Ronaldo plays. The move is part of a broader strategy to use sport to enhance the kingdom's global standing.
The takeover follows a series of high-profile signings, with Karim Benzema already joining Al-Ittihad and N'Golo Kanté reportedly set to follow. Lionel Messi declined an offer, opting for Inter Miami, while Sergio Busquets and Pierre-Emerick Aubameyang are among those being courted.
PIF, which owns 80% of Newcastle United and has backed the LIV golf circuit, sees football as a particularly effective tool because players are seen to be living in the country. The fund has invested heavily in stadiums and facilities, aiming to create clubs capable of attracting 70,000 supporters to home games.
The privatisation aligns with Saudi Arabia's ambition to host the World Cup in 2030, with reports of talks over a joint bid with Egypt and Greece. The kingdom has faced criticism over human rights issues, but its national team's victory over Argentina at the 2022 World Cup demonstrated potential on the pitch.
Officials hope that bringing star players to the domestic league will improve its appeal and develop a stronger national team, with a target of reaching knockout stages by 2030.
