3 powerful alliances: American-Saudi battle over ownership of Al-Ittihad club

Who steers the ship of "Al-Ameed"?

Several powerful consortiums have entered a fierce battle over the coming hours to acquire Saudi club Al-Ittihad.

Press reports confirmed that the Saudi Public Investment Fund is studying numerous bids for ownership of "the Dean", with the process expected to run until the end of next year.

Saudi newspaper "Al-Riyadiyah" report that three investment consortiums have shown interest. The first pairs the American Glazer family with businessman Wael Jamjoom.

A second American-Saudi consortium chasing the Jeddah club brings together Prince Saad bin Abdullah and American businessman Joshua Harris, co-owner of several clubs in America and England.

Should that group win the race, it intends to appoint Hamad Al-Sunai, the former Al-Ittihad president, as chief executive.

The third consortium unites Sedra Capital and BlueFive Capital, led by Abdulrahman and Sultan, the two sons of Khalid bin Mahfouz, the former honorary member of Al-Ittihad.

According to the same newspaper, Sedra Capital and BlueFive Capital are the closest to sealing the deal. They have submitted the highest financial offer, backed by the strength of their investment file and their fulfilment of the qualification requirements.

That consortium outstrips its rivals on financial solvency, funding sources and investment structuring, plus a strategic vision for developing the club both on and off the pitch. For now, that gives them the edge.

Al-Hilal, remember, were the first of the big four to emerge from under the umbrella of the Saudi Public Investment Fund. Last April, 70% of their shares passed to Kingdom Holding Company, owned by Prince Al-Waleed bin Talal.