Surprise in the file on the takeover of Al-Ittihad of Saudi Arabia

Reports reveal the secret

The Saudi newspaper "Okaz" has revealed fresh developments in the takeover of Al-Ittihad. The search for a new investor is still ongoing, and the ownership transfer could stretch until the end of 2027, depending on the financial and administrative evaluations of the applicants.

A source close to Al-Ittihad's management told the newspaper that the file has entered an advanced stage of review. That includes a study of the investors' financial solvency, an examination of their funding sources and financial obligations, plus checks on their ability to own and run the club and meet its demands in the near and medium term.

According to the source, the evaluation covers both local and foreign investors, in line with the conditions and regulations set by the owning body. Foreign investment requires a local partner within the ownership structure, as laid out in the approved regulatory framework.

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Local investors, by contrast, can apply to acquire the club individually with a stake of up to 70 per cent, provided they meet the required criteria on financial capacity and administrative efficiency. The investor must prove they can manage the club and fulfil its obligations.

Negotiations with the interested parties are continuing, the source confirmed. The study of the submitted files has made significant progress, reaching the review of financial and administrative details and the final evaluation ahead of the executive procedures. The source stopped short of naming the investors or setting a final date to close the deal.

He added that the takeover has advanced since talks began at the end of last season, and Al-Ittihad are now closer to naming their new owner. The transfer date, though, still hinges on completing the evaluations and approving the results, which may push resolution of the file back to the end of 2027.