Saudi Ministry of Sports announces privatization of 3 clubs… Al-Khulud to be first foreign acquisition

By: Mamdoh Almalki

The Ministry of Sports, in cooperation with the National Center for Privatization, announced the privatization of the first three Saudi clubs under the Sports Privatization and Investment Project: Al-Ansar, Al-Khulud, and Al-Zulfi. This follows the completion of the public offering process and the transfer of ownership to investment entities.

According to the details, ownership of Al-Ansar Club was transferred to Awda Al-Biladi & Sons Company, while Al-Khulud was transferred to the Harburg Group, led by American investor Ben Harburg. Meanwhile, Nujum Al-Salam Company acquired Al-Zulfi Club after completing technical and financial evaluations according to approved criteria.

The Ministry confirmed that the process of receiving bids for some other clubs, such as Al-Nahda, Al-Okhdood, and Al-Orouba, is still under review or being extended in response to requests from investment entities. It emphasized that each privatization process goes through several stages, including technical and commercial examination, club readiness assessment, bid evaluation, and finally, the selection of the most suitable offer. The ministry also invited investors wishing to acquire other clubs to apply through the official website, noting that the next phase will witness an expansion of the scope of privatization, ensuring broader opportunities for competition and investment in the sports sector. This step is an extension of the transformation process led by the Ministry of Sports to improve performance, develop financial and administrative governance in clubs, and strengthen partnerships with the private sector, all within the goals of Saudi Vision 2030 to build a professional and competitive sports sector.