Kingdom Holding Company, led by billionaire Prince Al Waleed bin Talal, has agreed to purchase a 70% stake in Saudi Pro League soccer club Al Hilal. The transaction values Al Hilal at $373.20 million.
This acquisition aligns with the Public Investment Fund's strategy to enhance returns and reinvest capital into the Saudi economy. The PIF has been Al Hilal's principal shareholder since July 2023, as part of an initiative to boost the sports sector and its contribution to the Kingdom's GDP.
Prince Al Waleed stated the club is a "national symbol" and the acquisition "reflects our deep belief in the role of sport as a developmental force for both the economy and society."
Al Hilal, 19-time top-flight champions, are currently second in the Saudi Pro League.