Saudi Arabia's Public Investment Fund (PIF) shocked the footballing world on Monday as they announced they had purchased a 75 per cent stake in four of the country's biggest clubs. The top three teams in the division this season - Al-Ittihad, Al-Hilal and Cristiano Ronaldo's Al-Nassr - and second tier champions Al-Ahli.
This news dropped 24 hours before the bombshell story that LIV Golf, backed by PIF, would merge with the PGA tour, immediately bringing an end to a bitter and ongoing legal dispute between the two institutions. The Saudi Arabian wealth fund now have their hands firmly on the biggest golfing organisation in the world - and are beginning to make significant moves in football too.
Prince Abdullah bin Turki Al-Faisal, Saudi Arabia’s minister of sport, claims the recent decision to purchase significant equity in four top-flight clubs is being done with the aim of making the Saudi Pro League one of the biggest in the world. In their quest to upset the footballing apple cart, PIF took a huge step forward at the end of 2022 by persuading five-time Ballon d'Or winner Ronaldo to say goodbye to Europe for a stint with Al-Nassr.
