DUBAI, June 5 (Reuters) - Saudi Arabia's sovereign wealth fund will take control of four of the kingdom's top soccer clubs including Al-Nassr, which Cristiano Ronaldo plays for, as the government revives a plan to privatise several state-owned sports clubs.
All are in the top-flight Saudi Professional League, except Al-Ahli which is in the second-tier Saudi First Division.
The privatisation plan, mainly focused on soccer clubs and launched by Saudi Crown Prince Mohammed bin Salman, allows companies and development agencies to invest in and take over clubs, SPA reported earlier on Monday.
The kingdom aims for the revenue of the Saudi Professional League to increase to 1.8 billion riyals ($480 million) annually by 2030 from 450 million riyals.
Saudi oil giant Aramco will own Saudi First Division club Al-Qadsiah, Third Division side Alula FC will be owned by the Royal Commission for Al-Ula while First Division club al-Diraiyah FC will be controlled by Diriyah Gate Development Authority.
Persons:
Cristiano Ronaldo, PIF, Saudi Crown Prince Mohammed bin Salman, Ula, Ronaldo, Al Nassr, Lionel Messi, Jana Choukeir, Yousef Saba, Sriraj Kalluvila, Emelia
Organizations:
Al, Public Investment Fund, Twitter, Saudi Professional League, Saudi, Division, Saudi Crown, Second Division, NEOM, Saudi First Division, Alula FC, Royal Commission, First Division, Diraiyah FC, Diriyah, Development Authority, Investment, Premier League, Newcastle United, Reuters, Thomson
Locations:
DUBAI, Saudi, al, Ittihad, Al, Ahli, Hilal, Saudi Arabia, Portuguese, Argentina