Saudi football clubs have reached a historic milestone as Al Kholood Club becomes the first team in the kingdom to be fully acquired by a foreign company. The Harburg Group, led by American investor Ben Harburg, announced the official completion of its 100% acquisition of Al Kholood, a Saudi Pro League team. This groundbreaking move aligns with Saudi Arabia’s Vision 2030, which seeks to diversify the economy and elevate the global profile of its sports sector.
Saudi football clubs have long been state-run or locally owned, but this sale opens the door for broader international investment. The Ministry of Sport confirmed the privatisation of three teams — Al Ansar, Al Kholood, and Al Zulfi — transferring ownership to private investment entities through a public offering. These clubs are now seen as test cases for future private sector involvement in the country’s football industry.
Saudi Football Clubs Drive Vision 2030 Through Privatisation
Saudi football clubs play a key role in the Vision 2030 reform agenda championed by Crown Prince Mohammed bin Salman. The complete acquisition of Al Kholood is a landmark in the kingdom’s effort to modernize and commercialize its sports scene.The Harburg Group’s deal reflects strong confidence in the Pro League’s growth potential. It also deepens ties between Saudi Arabia and global football markets.
Saudi football clubs, such as Al Kholood, are now attracting global attention. The club finished ninth in the 18-team league last season and is expected to benefit from fresh investment and operational innovation. The club’s new owners also hold a 6.5% stake in Cádiz CF in Spain. This connection could boost international collaboration and open new pathways for player development.
Saudi Football Clubs Set Stage for More Global Investment
Saudi football clubs have proliferated since the arrival of global stars like Cristiano Ronaldo and Karim Benzema in 2022. These signings transformed the Pro League into one of the most-watched competitions in Asia and beyond. With the nation set to host the 2034 FIFA World Cup, interest in Saudi football has never been higher.
Saudi Arabia is positioning its football clubs as long-term assets within the kingdom’s economic strategy. The government is encouraging clubs to operate as profitable, sustainable businesses rather than relying solely on public funding. The club’s shift toward a private ownership model is gaining traction. Both foreign and domestic investors are showing growing interest in replicating it across more teams in the region.