Ronaldo could join US-Saudi bid for stake in Al-Nassr

A US-Saudi investment consortium led by RedBird Capital Partners is negotiating with the Public Investment Fund (PIF) over the purchase of a stake in Al-Nassr, with the parties aiming to complete a deal by the end of the current season.

The consortium has submitted an offer to acquire part of the Saudi Pro League club, according to a source who spoke to Asharq Bloomberg. Meetings have taken place in recent weeks between representatives of the group and PIF, which currently owns 100% of Al-Nassr.

The group includes RedBird Capital Partners, chaired by Gerry Cardinale, Saudi company Al-Wasail and businessman Ibrahim Al-Muhaideb, who previously served as president of Al-Nassr.

Negotiations remain ongoing, with PIF understood to be open to the different options and proposals presented to it. Italian publication Calcio e Finanza reported that the discussions had not yet reached their final stages and that no binding agreement had been reached.

RedBird Capital Partners declined to comment on the talks. Al-Wasail and Al-Muhaideb did not respond to enquiries from Asharq Bloomberg.

PIF took full ownership of Al-Nassr on 19 August, after the Ministry of Sport transferred the 25% stake held by the club’s non-profit foundation to the sovereign wealth fund. PIF had acquired the other 75% of the club in the summer of 2023.

Ronaldo considered for consortium role

A source close to the consortium told Asharq Bloomberg that the investors had asked for Cristiano Ronaldo, Al-Nassr’s captain, to be included in the deal as an investor.

The request is based on a clause in Ronaldo’s contract which gives him priority to acquire 20% of the club if it is offered to private investors.

Portuguese newspaper A Bola reported last week that Ronaldo had joined the consortium. It said each member was required to contribute at least $100m, potentially taking the group’s total investment to about $500m.

Ronaldo joined Al-Nassr in December 2022 and remains the club’s most prominent player, but the talks involving the proposed consortium have not yet resulted in a final agreement.

RedBird Capital Partners owns Italian club AC Milan and French side Toulouse in full. It also holds a stake of more than 10% in English club Liverpool.