PIF sells majority Al Hilal stake to Kingdom Holding

Saudi Arabia’s Public Investment Fund (PIF) has agreed to sell a 70% stake in Al Hilal to Kingdom Holding Company (KHC), moving one of the Kingdom’s flagship clubs into majority private ownership.The transaction values Al Hilal at £276.1m to KHC, the firm run by Prince Alwaleed bin Talal, a billionaire businessman and member of the Saudi royal family. Yazeed A. Al-Humied, PIF deputy governor and head of Middle East and North Africa investments, said: “PIF has proudly helped drive the efforts to transform Saudi Arabia’s sports sector and increase its value proposition for investors while creating lasting results at every level, from players and fans to local communities.“PIF has set ambitious goals for the clubs, enabling them to become successful commercially and professionally and achieve long-term financial sustainability. Today’s announcement aligns with PIF’s strategy to maximize returns and redeploy capital within the domestic economy.”PIF became majority shareholder of four Saudi Pro League clubs in 2023 as part of a league acceleration plan tied to broader sports sector growth targets.Al Hilal are one of the country’s most successful teams, with 19 league titles, and have been central to the league’s international profile building through high-cost recruitment and global marketing.The sale signals a shift from state-backed league building towards attracting and recycling domestic capital, while keeping strategic influence via minority stakes and governance structures.Prince Alwaleed bin Talal positioned the acquisition as both a national asset play and a platform for commercial scale-up.He said: “Al-Hilal is a national symbol and a source of pride for the Saudi people. This acquisition expresses our deep belief in the power of sports as a unifying force and a catalyst for national development. By applying our global investment standards and cultivating strategic partnerships, we will unlock Al-Hilal’s full potential while preserving its history and identity.”Operationally, the deal creates a new test case for investor-style ownership in the Saudi Pro League, including expectations around profitability, cost control, brand development and monetisation beyond matchday.It also raises questions about how far the league’s spending patterns will be recalibrated when a flagship club shifts from sovereign backing to a listed investment group with its own return thresholds.PIF remains the majority owner of Al Nassr, Al Ahli and Al Ittihad, leaving the broader privatisation roadmap as the next focal point for investors, sponsors and agents tracking Saudi market direction.