Kingdom Holding Company has completed its acquisition of a 70% stake in Al-Hilal Club Company from the Public Investment Fund (PIF), the two parties said on 1 September.

The transaction gives Kingdom Holding majority ownership of one of Saudi Arabia's leading football clubs, with PIF retaining the remaining 30%. It follows a binding share sale and purchase agreement signed on 16 April, which valued Al-Hilal at an enterprise value of SR1.4bn ($373m).

The completion closes a deal first agreed nearly five months ago and marks PIF's partial exit from a club it has controlled since July 2023, when it took a majority holding under the kingdom's sports clubs investment and privatisation project.

PIF, the kingdom's sovereign wealth fund, has said the sale aligns with its strategy of maximising returns and redeploying capital within the domestic economy. The fund led a restructuring of Al-Hilal's governance and commercial operations during its period of control, with the club generating revenue through sponsorships, merchandise and matchday income.

Kingdom Holding, the investment firm chaired by Prince Alwaleed bin Talal, said the acquisition reflects its strategy of diversifying into high-growth sectors. The company has said it intends to focus on improving the club's commercial performance, expanding international partnerships and developing sports infrastructure.

Al-Hilal's board, chaired by Prince Nawaf bin Saad, welcomed Kingdom Holding as principal shareholder and acknowledged PIF's role in the club's institutional transformation.

The sports clubs privatisation programme forms part of Saudi Vision 2030, which targets a larger economic contribution from the sports sector and aims to place clubs on a commercially sustainable footing.