Latest news with #Al-Kholood
Morocco World
7 days ago
- Business
- Morocco World
Three Saudi Clubs Privatized Through Public Offerings
Rabat – Saudi Arabia has announced that three of their football clubs – Al-Ansar, Al-Kholood, and Al-Zulfi – were privatized on Thursday through a public offering. The Saudi Ministry of Sports said that the ownership of these clubs has been transferred to investment entities, adding that a total of six clubs would be offered up for privatization. Al-Zulfi Club ownership was transferred to Nojoom Al-Salam Company, Al-Kholood Club is now owned by the Harburg Group, and Al-Ansar Club was acquired by Oudah Al-Baladi & Sons Company. While Al-Nahda's proposals are still under review by the ministry, Al-Okhdood and Al-Orobah will be put up for auction, allowing investors to submit their proposals. The Gulf country's Sports Club Privatization Project was launched by the Crown Prince Mohammed bin Salman in 2024, and was approved by the Saudi Cabinet in the same year. The aim is to develop a strong, competitive sports sector driven by private investment and professional club management. This move aligns with Saudi Arabia's new 2030 economic vision plan , to diversify its economy by promoting investments in new sectors and reducing the overreliance on oil. 'The project includes two main tracks: the first is for major companies and development entities to invest in sports clubs, in return for transferring ownership of the clubs to them. The second track is offering a number of sports clubs for privatization,' the sports ministry said on official website. This project is designed to transform the Saudi sports clubs into a professionally run businesses that attract investment, operate independently, and positively impact society through job creation, entertainment, and community involvement. Tags: Al-AnsarAl-KholoodAl-Zulfisaudi football
Saudi Gazette
25-07-2025
- Business
- Saudi Gazette
Harbinger Group becomes first foreign owner in Saudi Pro League
Saudi Gazette report RIYADH — U.S.-based Harbinger Group has officially become the first foreign owner of a Saudi Pro League club after completing a full acquisition of Al-Kholood FC, the Ministry of Sports announced. The move signals a new era of international investment in Saudi football. In a statement, Harbinger Group confirmed it had acquired 100% ownership of the club based in Al-Rass, which finished ninth in the 2024–25 Saudi Pro League season. The Ministry also revealed that two other clubs — Al-Ansar and Al-Zulfi — have been successfully privatized and transferred to new investors as part of Saudi Arabia's broader sports privatization strategy. Ben Harburg, the founder and managing partner of Harbinger Group, said the acquisition of Al-Kholood was a "tremendous honor," positioning the group as the first foreign entity to fully own a top-tier Saudi football club. "We are on the cusp of extraordinary growth under Saudi Arabia's Vision 2030, especially with the Kingdom hosting the FIFA World Cup in 2034," Harburg said in a video statement shared by the Ministry. 'We believe football players are Saudi Arabia's greatest export to come.' On their journey to acquiring Al-Kholood Club Ben Harburg and Brian Wright Vias speak : — Ministry of Sport (@mosgovsa_en) July 24, 2025 "During our due diligence process, we reviewed multiple clubs, but Al-Kholood stood out due to its strong trajectory, passionate fanbase, and the dynamic Al-Qassim region." Brian Wright Vias, a senior member of Harbinger, described the acquisition as both a privilege and a great responsibility. 'We are grateful to the Ministry of Sports and to the Saudi people for this opportunity,' he said. 'Our goal is not to buy global stars, but to develop them — to build Saudi talent and make them global exports.' Unlike the Kingdom's four elite clubs — Al Hilal, Al Nassr, Al Ittihad, and Al Ahli — which are majority-owned by the Public Investment Fund (PIF) and have attracted world-class players like Cristiano Ronaldo, Karim Benzema, and Neymar, Al-Kholood currently does not field global superstars. But the new owners believe in long-term development. This milestone is part of the Saudi Ministry of Sports' privatization initiative, in collaboration with the National Center for Privatization. The program aims to foster private sector participation and enable clubs to become financially sustainable, talent-driven entities that contribute to the growing sports ecosystem. Since 2022, Saudi Arabia has significantly ramped up its investment in football, highlighted by Ronaldo's record-setting arrival and a wave of international signings, sponsorships, and global tournaments hosted across the Kingdom — from Formula 1 and LIV Golf to boxing, MotoGP, and the Spanish and Italian Super Cups. With the privatization of Al-Kholood, Al-Ansar, and Al-Zulfi, Saudi Arabia has taken a major step forward in transforming its domestic football landscape and welcoming international partnerships as part of Vision 2030's sports transformation goals.
Gulf Insider
25-07-2025
- Business
- Gulf Insider
Saudi Arabia Privatizes Three Football Clubs
The Ministry of Sports announced Thursday the privatization of the three football clubs— Al-Ansar, Al-Kholood, and Al-Zulfi — under the Kingdom's broader sports investment and privatization initiative. Ownership of the clubs has officially been transferred to private investors following the completion of regulatory procedures and company formation by the National Center for Privatization. Al-Zulfi FC will now be owned by Najm Al-Salam Company, Al-Kholood by Harburg Group, and Al-Ansar by Awda Al-Baladi & Sons Company. This follows the August 2024 announcement of six clubs slated for privatization: Al-Ansar, Al-Okhdood, Al-Kholood, Al-Zulfi, Al-Orouba, and Al-Nahda. The three remaining clubs — Al-Nahda, Al-Okhdood, and Al-Orouba — are still under evaluation. Al-Nahda has completed its bid submission period, while the other two did not meet the qualification requirements. Minister of Sports Prince Abdulaziz bin Turki Al-Faisal hailed the milestone, saying: 'With the leadership's support, we are witnessing a historic moment in Saudi sports. This step reflects the visionary leadership of Crown Prince Mohammed bin Salman.' He also congratulated the clubs and welcomed the private sector as a key partner in driving forward the Kingdom's sports development. The ministry emphasized that future privatizations will proceed based on club readiness, investor interest, and competitive tendering. It has opened the door for further expressions of interest via its official website, aiming to continue building a competitive, professional sports sector. Privatization efforts are part of a larger push to raise operational efficiency, enhance governance, and attract private sector partnerships across Saudi sports, creating a modern sports industry aligned with the Kingdom's strategic goals. Also read: Saudi Arabia: AlUla Moments 2025–26 Calendar: Full Guide For UAE Travellers To Festivals, Art And Sport
Saudi Gazette
24-07-2025
- Business
- Saudi Gazette
Saudi Arabia privatizes three football clubs
Saudi Gazette report RIYADH — The Ministry of Sports announced Thursday the privatization of the three football clubs— Al-Ansar, Al-Kholood, and Al-Zulfi — under the Kingdom's broader sports investment and privatization initiative. Ownership of the clubs has officially been transferred to private investors following the completion of regulatory procedures and company formation by the National Center for Privatization. Al-Zulfi FC will now be owned by Najm Al-Salam Company, Al-Kholood by Harburg Group, and Al-Ansar by Awda Al-Baladi & Sons Company. This follows the August 2024 announcement of six clubs slated for privatization: Al-Ansar, Al-Okhdood, Al-Kholood, Al-Zulfi, Al-Orouba, and Al-Nahda. The three remaining clubs — Al-Nahda, Al-Okhdood, and Al-Orouba — are still under evaluation. Al-Nahda has completed its bid submission period, while the other two did not meet the qualification requirements. Minister of Sports Prince Abdulaziz bin Turki Al-Faisal hailed the milestone, saying: 'With the leadership's support, we are witnessing a historic moment in Saudi sports. This step reflects the visionary leadership of Crown Prince Mohammed bin Salman.' He also congratulated the clubs and welcomed the private sector as a key partner in driving forward the Kingdom's sports development. The ministry emphasized that future privatizations will proceed based on club readiness, investor interest, and competitive tendering. It has opened the door for further expressions of interest via its official website, aiming to continue building a competitive, professional sports sector. Privatization efforts are part of a larger push to raise operational efficiency, enhance governance, and attract private sector partnerships across Saudi sports, creating a modern sports industry aligned with the Kingdom's strategic goals.
The Star
24-07-2025
- Business
- The Star
Saudi Arabia privatises three local soccer clubs through public offering
DUBAI (Reuters) -Saudi Arabia announced on Thursday the privatisation of three soccer clubs, Al-Ansar, Al-Kholood, and Al-Zulfi, through a public offering, the sports ministry said. Ownership of these three clubs has been transferred to investment entities, it said, without giving any financial details. The ownership of Al-Zulfi Club will transfer to Nojoom AlSalam company, Al-Kholood to Harburg Group, and Al-Ansar to the Awdah Al Biladi And His Sons company. As for other clubs, the ministry confirmed it has completed the bidding stage for Al-Nahda Club and is reviewing offers, with an extension granted for further proposals. Sport is one of the pillars of Saudi Arabia's Vision 2030 economic diversification plan that seeks to build new industries and create jobs. (Reporting by Jana Choukeir and Ahmed ElimamEditing by Tomasz Janowski, Kirsten Donovan)
