Cristiano Ronaldo's Al-Nassr in financial crisis as debt exceeds 800m Saudi riyals: Report
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The Knights of Najd are not able to sign new players.
Cristiano Ronaldo’s Al-Nassr are in the clutches of a stifling financial crisis. It is plainly jeopardising their operations during the current summer transfer window.
So far, the team has not concluded any deals. That dilemma is why, despite an agreement to recruit Portuguese midfielder Samu Costa from Real Mallorca, they have yet to resolve the contract extension of Abdulrahman Ghareeb.
Al-Nassr are in a financial mess & have debts of almost 1B Saudi riyals
The Saudi publication “Arriyadiyah” uncovered the core of the problem, indicating that Al-Nassr’s debts now reach 800 million Saudi riyals as a result of financial mistakes made last season.
According to the publication, the Saudi Public Investment Fund (PIF), which owns Al-Nassr, has decided on three options to address the situation. The goal is to safeguard the club’s financial, fan base, and marketing worth while preventing those obligations from increasing.
The first method limits some of the existing executive management’s financial resources, which is prohibiting the club from making any new additions right now.
According to the publication, Al-Nassr will not make any new acquisitions this summer until the club’s senior administration obtains cash via its own profits.
This is where the second strategy comes in. It entails employing financial, commercial, and legal consulting companies to increase commercial income, reduce spending, and provide ideas and answers with a timetable. All to help the club recover from its financial difficulties.
The third and final step entails assessing the proposals to purchase Al-Nassr. The Public Investment Fund is considering two serious proposals, but would prefer a partial acquisition.
Supporters are keen for a third option to be implemented as soon as possible, following in the footsteps of neighbours and long-time rivals Al-Hilal. They were purchased by Kingdom Holding Company, controlled by Prince Al-Waleed bin Talal, in April.
How much financial debt are Al-Nassr in?
It exceeds 800 million Saudi riyals.
Will they be able to sign new players?
No, unless they decrease their debt.
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After earning a bachelor's degree in mass media, Rajarshi began his career as a sports writer in 2019, driven by his passion for sports journalism. He has been working in the field for over six years. A devoted fan of Lionel Messi and Barcelona, Rajarshi has been involved in sports since childhood. Before turning his focus to journalism, he even represented his college at the state level. Along with covering football, he enjoys playing the game, watching movies, and experimenting with new recipes in his spare time, as cooking is one of his favorite hobbies.