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Football
Saudi Al-Ahli Club has canceled its upcoming board elections to facilitate the club's sale and align with the ongoing privatization of Saudi football clubs.
Sources close to the Saudi Professional League have revealed plans to cancel the upcoming elections for the board of directors of Al-Ahli Club, which were scheduled to take place soon to elect a new board for the club’s company.
According to the Saudi newspaper "Al-Riyadiyah," the cancellation of Al-Ahli's presidential elections is part of a broader move to put the club up for sale and expedite acquisition procedures. This aligns with the Saudi clubs’ privatization project, which began with Al-Hilal Club earlier this year and will extend to other clubs, including those owned by the Public Investment Fund.
The newspaper explained that the process of offering Saudi Professional League clubs for sale and accelerating acquisition steps, along with preparing the legal and regulatory framework for potential investors, necessitated the cancellation of elections in these clubs. This includes Al-Ahli, where the nomination period for the presidency was planned to open this summer.
The future of Al-Ahli's board of directors, currently chaired by Khalid Al-Ghamdi, is expected to be determined by the upcoming acquisition. The new investor will have the authority either to retain the current management or to implement administrative changes that align with their vision and sports project plan.
The privatization project will also involve offering Al-Ahli, Al-Nassr (the league champion), and Al-Ittihad clubs for acquisition by private companies and investors, which will automatically result in the cancellation of elections.
"Wide-ranging changes" are anticipated as part of Prince Al-Waleed bin Talal's expected plan for Al-Hilal Club.
"Al-Riyadiyah" noted that the composition of Al-Ahli's board in the coming period may undergo changes depending on the new investor’s strategy following the completion of the acquisition.
The Saudi football scene is witnessing an almost complete shift towards the privatization of clubs in the Roshn Professional League and the Yelo League (second division). This initiative is an extension of the policy to open investment opportunities in Saudi sports.
In April, Al-Hilal became the first club to fully transfer ownership to private companies after Prince Al-Waleed bin Talal succeeded in purchasing the club.
The Saudi Public Investment Fund, which owns 75% of the club's capital, and Kingdom Holding Company, owned by Prince Al-Waleed bin Talal, announced the signing of a share sale and purchase agreement. Under this agreement, Kingdom Holding will acquire 70% of the total capital of Al-Hilal Club's company.
