Three bidding groups reach final round to buy Saudi club Al-Ittihad
Three consortiums, including the Glazer family and a Saudi prince, are in the final stage of talks to take over Al-Ittihad from the Public Investment Fund.
Al-Ittihad could soon have a new owner. Sources familiar with the talks say the takeover of the club, currently held by Saudi Arabia's Public Investment Fund (PIF), has reached its final stage.
Three bids are in the running, each backed by a coalition of local and international investors. The first brings together the financial firm Sidra and Blue Five Capital. The second pairs the American Glazer family with businessman Suhaib Jamjoom. The third combines Prince Saad bin Abdullah and American businessman Josh Harris.
The sources say all three groups have moved past the early rounds of negotiations. Their offers are close in estimated value, though no figures were disclosed. Each, they say, has a real chance of winning.
The decision belongs to the PIF, which will pick the group that gets the right to buy. For now, there is no clear date for completing the ownership transfer.
In 2023, the PIF took a 75% stake in Al-Ittihad, Al-Nassr, Al-Hilal and Al-Ahli as part of Saudi Arabia's plan to privatise its clubs.
Story timeline
Al-Ittihad club takeover bids · 3 updates
What happened before and after this story. Background events not previously covered were summarised by AI.
More in: Sport
See all →
Puck pierces goalkeeper's helmet and lodges in his mask in a VHL game
Thuram ruled out of Les Bleus camp: who will Zidane call up next?
Usman Khawaja alleges racial abuse by an MCC member at Lord's in 2023
