Kingdom Holding buys into Al Hilal

Kingdom Holding Company has signed a binding agreement to acquire a 70% stake in Al Hilal based on an enterprise value of SAR 1.4 billion, or about $373.2 million. The transaction is still subject to certain conditions and regulatory approvals, but it is already one of the most important club-ownership moves in the region this year. Al Hilal is one of Saudi Arabia’s flagship football brands, with 19 league titles, and currently sits near the top of the Saudi Pro League table. The sale also aligns with a broader capital-recycling push, with the proceeds intended to be redeployed into the domestic economy as Saudi sport continues to evolve.

The deal lands at a point when Saudi football is moving into a more mixed ownership model, with private capital, stronger sponsorship momentum and a broader commercial push beginning to sit alongside state backing. The league has also secured a six-season MENA media-rights deal worth SAR 2.32 billion, adding another layer to the commercial base around the competition. Al Hilal therefore sits inside a wider transition rather than in isolation. A market that spent decades funded almost entirely through government support is starting to show clearer private ownership, new revenue structures and more visible financial differentiation between assets.