PIF in talks to sell 70% stake in Al-Nassr FC to Redbird

Saudi Arabia’s Public Investment Fund (PIF) is in talks to sell 70% of its stake in Al-Nassr Football Club to Redbird.

According to Semafor, the move is part of efforts by the PIF to help pay off Al-Nassr’s debt, which stands at $213 million.

This step aligns with the fund’s strategy to maximize returns and recycle capital within the local economy, supporting its broader investment goals of generating sustainable value from its assets and diverse investments.

On April 26, the PIF signed a binding agreement to sell 70% of Al-Hilal Club’s total capital to Kingdom Holding Company, based on an enterprise value of 1.4 billion riyals (SAR) for the club. This reflects the fund’s approach to restructuring sports club ownership and boosting the private sector’s role in their development.

The PIF became the main shareholder in Al-Hilal Club in July 2023 as part of a sports club investment and privatization initiative aimed at accelerating the development of Saudi clubs, improving management efficiency, and increasing the sports sector’s contribution to GDP.