 "<div>Cristiano Ronaldos Al-Nassr reportedly put on sale as PIF looks to cut spending</div>")
Cristiano Ronaldo’s Al-Nassr has reportedly been put up for sale by the Public Investment Fund (PIF) along with the other three clubs—Al-Ittihad, Al-Ahli, and Al-Hilal—in which the entity holds a majority stake.
Cristiano Ronaldo’s Al-Nassr are reportedly up for sale as the Public Investment Fund (PIF), Saudi Arabia’s sovereign wealth fund, that holds a 75% stake in the club, looks to divest its football assets. According to Saudi Arabian journalist Ahmen Al-Ajlan, PIF is planning to sell all four Saudi Pro League clubs in its portfolio-Al-Nassr, Al-Ittihad, Al-Ahli, and Al-Hilal-as part of a broader strategy to reduce expenditure.
Since an exorbitant amount of money has been spent by PIF in the last couple of years to uplift the stature of the Saudi Pro League, the time has apparently come to take a step back.
Given the whopping sum the clubs were willing to offer, Saudi Arabia emerged as an attractive avenue for prominent players playing in the top five European leagues. Following the pioneering move to bring Cristiano Ronaldo to Al-Nassr, players like Karim Benzema, Neymar Junior, Sadio Mane, and many more shifted their base to the Middle Eastern nation. Not just the players who were in the twilight phase of their careers, but the destination became attractive to youngsters as well. The likes of Joao Felix, Kingsley Coman, and Pierre-Emerick Aubameyang were the latest to make the switch to Saudi.
Having done its bit, PIF is reportedly looking to reduce its spending. It owns 75% of these four clubs, and the remaining share rests with the Saudi Ministry of Sport. By putting these clubs up for sale, PIF may want to open investment opportunities for independent organisations, a move that could bring a fresh influx of funds, which could further enhance the quality of the league.
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As per The Express, Al-Hilal appear to be generating quite a buzz among the potential buyers. The club harbours an impressive squad, as the likes of Darwin Nunez, Joao Cancelo, and Theo Hernandez are all part of the side. The report further states that billionaire Prince Al Waleed bin Talal is currently the frontrunner to acquire the club. However, he is facing stiff competition from Prince Abdullah bin Mossad, the former Sheffield United owner.
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