Kingdom Holding Company completed its acquisition of a 70% stake in Al-Hilal Club Company for USD 224 million (SAR 840M) from the Public Investment Fund (PIF). 

The deal transfers majority ownership of Al-Hilal Club Company from Saudi Arabia’s Public Investment Fund to Kingdom Holding. This marks a new phase in the club’s privatization journey.

The transaction, agreed in April, was completed on September 1 after Kingdom Holding secured the required regulatory approvals and no objection clearances. PIF will retain the remaining 30% stake in the Saudi sports club.

Why You Should Care

The deal is part of Saudi Arabia’s wider effort to develop more institutional and commercially sustainable operating models for its sports clubs.

The acquisition gives Kingdom Holding majority ownership of Al-Hilal, one of Saudi Arabia’s most prominent sports clubs, and marks another step in the restructuring of club ownership under the Kingdom’s wider sports sector transformation.

The deal also shows how Saudi Arabia’s sports privatization program is moving from restructuring ownership toward a model that gives private investors a larger role in the commercial and investment development of major clubs.

The Details

Kingdom Holding signed the share purchase and sale agreement with PIF on April 16, agreeing to acquire the 70% stake for USD 224 million (SAR 840M). The General Authority for Competition subsequently issued a decision in July confirming that it had no objection to the transaction.

For Al-Hilal, the ownership change follows PIF’s period of ownership, during which the fund worked to strengthen the club’s corporate structure and develop its operating and commercial capabilities. The club’s board indicates that the completion opens a new phase while maintaining Al-Hilal’s identity and legacy.

The Ripple

The transaction adds another example of how Saudi Arabia is reshaping the ownership and operating models of its major sports clubs.

PIF retains a 30% interest, while Kingdom Holding becomes the principal shareholder. The new structure gives Kingdom Holding a larger role in determining the club’s commercial and investment direction.

The move also falls within the Investment and Privatization Project for Sports Clubs. This aims to increase the sports sector’s economic contribution and support clubs in building more sustainable models.

For the wider Saudi sports market, the significance will depend on how these new ownership structures translate into stronger operations, investment capabilities and long-term commercial development.

What to Watch

The next phase will be defined by how Kingdom Holding uses its majority position.

Al-Hilal’s board has pointed to goals including sustaining growth, strengthening the club’s competitive and investment capabilities, and expanding its domestic and international presence.

The key signal will be how the new ownership structure affects Al-Hilal’s institutional development, commercial operations and long-term investment model while preserving the club’s established sporting identity.