Riyadh, Saudi Arabia – Press reports revealed on Sunday that Al-Waleed bin Talal, Chairman of the Board of Directors of Kingdom Holding Company, is close to acquiring the Saudi Al-Hilal Club completely.
According to the Asharq Al-Awsat newspaper, Prince Alwaleed bin Talal’s acquisition of Al-Hilal football club is imminent. Negotiations have reached their final stages, paving the way for an official announcement of the deal before the end of December.
The newspaper explained that the deal will cost the Saudi prince approximately $2 billion (7.5 billion Saudi riyals). Most of this will be paid to the Saudi Public Investment Fund, which owns about 75% of the club’s shares. The remainder will go to the Ministry of Sport.
She indicated that negotiations between the parties involved in the deal began nearly a year ago. They have now reached their final stages, after which Al-Waleed bin Talal will be announced as the 100% owner of Al-Hilal Club.
The newspaper also confirmed that the acquisition of Al-Ittihad Club is not imminent at the moment, due to ongoing negotiations with many investors, including Abdullah Saleh Kamel and his brother Mohi.
She indicated that the acquisition of Al-Ittihad cannot be finalized for at least three months. The same applies to Al-Ahli and Al-Nassr. Meanwhile, there have been no updates regarding the privatization of Al-Shabab and Al-Ettifaq, with negotiations potentially continuing until the end of next year.
