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Saudi wealth fund sells football club Al-Hilal
TL;DR
Saudi Arabia's sovereign wealth fund has sold a 70% stake in Al-Hilal football club to Kingdom Holding Company, owned by Prince Alwaleed bin Talal. French striker Karim Benzema currently plays for Al-Hilal.
Key points
- Saudi wealth fund sold 70% of Al-Hilal
- Buyer is Kingdom Holding Company
- Prince Alwaleed bin Talal is the head of KHC
- Karim Benzema plays for Al-Hilal
- PIF retains ownership of Newcastle United
Mentioned in this story
Public Investment FundKingdom Holding CompanyPrince Alwaleed bin TalalKarim BenzemaNewcastle United
Al-Hilal
French striker Karim Benzema left Al-Ittihad to join Al-Hilal (Abdel Ghani BASHIR)
(Abdel Ghani BASHIR/AFP/AFP)
Saudi Arabia's sovereign wealth fund announced Thursday the sale of its majority stake in Saudi Pro League football club Al-Hilal, where French striker Karim Benzema plays.
The PIF, which also owns English Premier League side Newcastle United, Â sold 70 percent of Al-Hilal to Kingdom Holding Company (KHC), the firm run by Prince Alwaleed bin Talal, a billionaire businessman and member of the Saudi royal family.
The deal values the share capital of Al-Hilal at 1.4bn Saudi riyals ($373m).
The sale comes amid scrutiny over the PIF's investment in LIV Golf, with reports circulated that the breakaway tour is on the verge of collapse due to the possible withdrawal of Saudi Arabian financing.
"Al-Hilal is a national symbol and a source of pride for the Saudi people," Bin Talal said in a statement.
"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."
The PIF, a wealthy public fund managed by Crown Prince Mohammed bin Salman, acquired a majority stake in the Riyadh-based club in 2023, along with three other teams in the Saudi league -- Cristiano Ronaldo's Al-Nassr, Al-Ahli and Al-Ittihad -- as part of the kingdom's sports investment policy.
This capital injection enabled Al-Hilal to attract numerous foreign players, notably Brazilian star Neymar, before his departure in January 2025.
French striker Benzema joined Al-Hilal most recently after terminating his contract with Al-Ittihad.
"The sale aligns with PIF's strategy to maximize returns and redeploy capital within the domestic economy," the PIF statement read.
"This strategy supports PIF's wider efforts to drive the development and diversification of Saudi Arabia.
"PIF is unlocking opportunities to make a transformative impact in the Saudi sports sector and deliver positive, long-term results."
The PIF added that it had "led the transformation of Al-Hilal... empowering it to achieve significant growth in value.
Q&A
Why did the Saudi wealth fund sell its stake in Al-Hilal?
The sale is part of a strategic move by the Public Investment Fund to divest from certain assets while maintaining ownership of Newcastle United.
Who is the new owner of Al-Hilal after the sale?
Kingdom Holding Company, run by billionaire Prince Alwaleed bin Talal, is the new owner of the 70% stake in Al-Hilal.
What impact will this sale have on Al-Hilal and its players?
The sale may influence the club's financial strategies and player acquisitions, potentially affecting its competitiveness in the Saudi Pro League.
