Kingdom’s PIF to address Al-Nassr’s deep financial crisis: report

DUBAI: The Kingdom’s Public Investment Fund is taking urgent measures to address the crippling financial crisis plaguing Al-Nassr, the reigning Saudi Pro League champions, according to a recent report by the Arabic-language daily Arriyadiyah. The newspaper reported, citing sources, that Al-Nassr’s debt currently exceeds $213 million (SR800 million). The team’s captain is Cristiano Ronaldo. According to a source close to the PIF, owners of the team, the measures will be threefold. The first involves curbing some of the executive management’s financial powers within the club’s company.

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