RIYADH, JULY 4: The Saudi Pro Leagues remaining 14 football clubs are up for privatisation, the sports ministry said, after the sale of four top teams sparked a billion-dollar spending spree on foreign stars.
Six more clubs from the 18-strong league are available for privatisation next month, followed by the other eight "at a later stage", a statement said late on Wednesday.
Saudi Arabias Public Investment Fund (PIF), the top oil exporters sovereign wealth vehicle, took a majority stake in Al Hilal, Al Nassr, Al Ahli and Al Ittihad last year.
The four clubs have signed superstars including Cristiano Ronaldo, Karim Benzema and Neymar on eye-watering contracts.
Saudi clubs, led by the four owned by PIF, spent $957 million in last years summer transfer window, second only to the English Premier League.
However, it resulted in a lop-sided season highlighted by Al Hilals top-flight world record of 34 straight wins in all competitions. —AFP
