RIYADH — Prince Alwaleed bin Talal, chairman of Kingdom Holding Company, is nearing the completion of a landmark acquisition of Saudi football giants Al Hilal, with a final announcement expected before the end of December, according to sources cited by Asharq Al-Awsat.

Sources familiar with the deal said negotiations have been ongoing for nearly a year, with only minor details remaining before Prince Alwaleed acquires full ownership of the club, marking what would be an unprecedented transaction in Saudi sports history.

If finalized, the deal would represent the first complete private acquisition of one of the Kingdom’s top football clubs following the launch of Saudi Arabia’s sports privatization program.

Other club privatizations progressing more slowly

The same sources said Al Ittihad, currently owned by the Public Investment Fund (PIF), is not close to exiting government ownership due to ongoing negotiations with multiple potential investors. The process is expected to take more than three additional months.

Similar timelines are expected for Al Nassr and Al Ahli, with no immediate breakthroughs reported.

Meanwhile, there have been no significant developments regarding the privatization of Al Shabab and Al Ettifaq, as offers for both clubs have yet to reach advanced stages. According to the report, discussions could extend until the end of next year.

Background to the Al Hilal negotiations

The potential Al Hilal deal follows earlier reports in September, when Bloomberg said Prince Alwaleed was in talks with the Public Investment Fund to purchase its 75% stake in the club.

The remaining 25% stake is reportedly owned by a Saudi non-profit organization that receives most of its funding from Prince Alwaleed, according to the same sources.

Based in Riyadh, Al Hilal is widely regarded as one of Saudi Arabia’s most successful football clubs, having won numerous domestic titles and continental trophies. It is one of four major clubs in which PIF currently holds ownership stakes.

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