Saudi Arabia Launches Privatization of Sports Clubs

Saudi Arabia's sports ministry has announced the privatization of three sports clubs: Al-Ansar, Al-Khulood, and Al-Zulfi. Ownership has been transferred to investment entities, paving the way for public offerings.

In a significant move towards sports sector reform, Saudi Arabia’s government announced on Thursday the privatization of three major sports clubs, as revealed by the sports ministry.

The clubs Al-Ansar, Al-Khulood, and Al-Zulfi are now under the ownership of investment entities, transitioning them from public to private control, the ministry stated.

This initiative aligns with the broader goal of strengthening the private sector's role in the country's economic diversification strategy.