RIYADH: Saudi Arabia’s Ministry of Sport has announced the privatization of three football clubs — Al-Ansar, Al-Kholood, and Al-Zulfi — marking the first set of teams offered to the public through initial public offerings.
The move represents a significant milestone in the Kingdom’s initiative to open the sports sector to private investment and ownership. The IPOs also follow a broader privatization program launched last August.
The ownership of the three clubs will transfer to private entities: Al-Zulfi to Nujoum Al-Salam, Al-Kholood to Harburg Group, and Al-Ansar to a joint venture between Audat Al-Biladi and Ayana.
The ministry, in cooperation with the National Center for Privatization, carried out the transfers after completing regulatory requirements and corporate restructuring, the authority stated.
“The National Center for Privatization carried out the necessary procedures to establish club companies and transfer their ownership to the new owners,” the statement said.
