Newcastle United owners take majority of stakes of four Saudi clubs

The Public Investment Fund now owns Al-Ittihad, Al-Ahli, Al-Nassr and Al Hilal

The Saudi Arabian investors in Newcastle United have acquired a controlling interest in four of the top clubs in the nation, notably Cristiano Ronaldo's Al-Nassr.

After a protracted acquisition process, the Public Investment Fund (PIF), which controls 80% of Newcastle, is acquiring 75% stakes in Al-Nassr, Al Hilal, Al-Ahli, and Al-Ittihad.

The latter club is rumoured to be considering signing Karim Benzema after it was announced that he would be leaving Real Madrid following the conclusion of the current campaign.

According to a tweet from the PIF account:

“As part of today’s announcement of the Sports Clubs Investment and Privatization Project, four Saudi clubs – Al Ittihad, Al Ahli, Al Nassr, and Al Hilal – have been transformed into companies, each of which is owned by PIF and non-profit foundations for each club.”

“The transfer of the four clubs will unleash various commercial opportunities, including investment, partnership and sponsorships across numerous sports,” the PIF claim concluded.

The Ministry of Sport and PIF are collaborating closely on the required legal processes for finishing the clubs' moves to their fresh organisations as newly-founded businesses together with non-profit foundations, according to PIF, which also stated that current participants of each club would have been accepted into the four foundations.

As part of a government attempt to aid in the development of sport, clubs in the Saudi top flight, which were up until now nominally controlled by the nation's Ministry of Sport, are being privatised. FIFA has been contacted for a response on the matter.

Cristiano Ronaldo joined Al Nassr after the World Cup in Qatar, but the campaign has come to an end without him winning a championship.

Despite finishing the season with 14 goals in 19 games, he was only able to secure second place in the Saudi Pro League.