Benzema’s Al Hilal sold as Saudi investment strategy shifts

Saudi Arabia’s Public Investment Fund has taken a decisive step in reshaping its football portfolio, offloading a controlling interest in Al Hilal in a deal that signals a recalibration of its domestic sports strategy.

The sovereign wealth fund confirmed on Thursday that it has sold 70 per cent of the Riyadh-based club, home to French striker Karim Benzema, to Kingdom Holding Company, the investment firm chaired by billionaire prince Alwaleed bin Talal.

The transaction places Al Hilal’s share capital at 1.4 billion Saudi riyals, approximately $373 million, underlining the club’s commercial rise since the PIF’s initial intervention in 2023.

That period saw the fund assume majority control of several top-flight teams as part of a broader push to elevate the Saudi Pro League’s global standing.

Bin Talal framed the acquisition as both a commercial and cultural commitment, highlighting the club’s symbolic importance within Saudi Arabia’s sporting landscape.

“Al Hilal is a national symbol and a source of pride for the Saudi people,” he said, adding that the move reflects confidence in sport as a driver of unity and national development.

The PIF, overseen by Crown Prince Mohammed bin Salman, had been instrumental in transforming Al Hilal into a magnet for elite talent.

Its financial backing facilitated high-profile arrivals, including Brazilian star Neymar, whose stint ended in early 2025, and more recently Benzema, who switched clubs after leaving Al Ittihad.

Despite relinquishing majority control, the fund will retain a minority stake and insists the move is aligned with its long-term economic blueprint.

In a statement, it emphasised that the sale supports efforts to maximise returns while redeploying capital into other domestic priorities, in line with Saudi Arabia’s diversification agenda.