DUBAI (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.
The Public Investment Fund (PIF) will own 75% of al-Ittihad, Al-Ahli, Al-Nassr, and Al-Hilal, the sports ministry said on Twitter on Monday following a report by state news agency SPA that Saudi Arabia will privatise several sports clubs from the fourth quarter.
