Mass resignation and ownership transfer: a new revolutionary step for the Saudi League's big clubs

The Roshn League continues its steps towards full transformation

Saudi football is undergoing another revolution, and its four biggest clubs sit at the centre of it: Al-Hilal, Al-Nassr, Al-Ittihad and Al-Ahli.

The Saudi Ministry of Sport confirmed on Wednesday the start of a transfer of the shares held by non-profit foundations, which account for 25% of the four clubs' companies, to the Public Investment Fund.

That move hands the Public Investment Fund full ownership of Al-Nassr, Al-Ittihad and Al-Ahli. The boards of directors of these foundations will be dissolved once the necessary regulatory procedures are complete.

According to the Saudi newspaper Asharq Al-Awsat, the step marks the second phase in the transfer of ownership of the four major clubs, in line with the aims of the investment and privatisation project for sports clubs.

For now, the boards of the club companies will carry on with their duties until their terms end, the members appointed by the non-profit foundations included.

In return, employees of the Public Investment Fund will step down from the chairmanship of the clubs' executive committees, complying with the rules on fair competition.

Al-Hilal remain the one exception among the four. Kingdom Holding Company, owned by Prince Al-Waleed bin Talal, took over 70% of the club's shares last April.

Al-Nassr, Al-Ittihad and Al-Ahli are also set to pass into the hands of a group of investors and businessmen in the coming period, completing the privatisation of Saudi football's biggest clubs.