Saudi Gazette report

RIYADH — U.S.-based Harbinger Group has officially become the first foreign owner of a Saudi Pro League club after completing a full acquisition of Al-Kholood FC, the Ministry of Sports announced. The move signals a new era of international investment in Saudi football.

In a statement, Harbinger Group confirmed it had acquired 100% ownership of the club based in Al-Rass, which finished ninth in the 2024–25 Saudi Pro League season.

The Ministry also revealed that two other clubs — Al-Ansar and Al-Zulfi — have been successfully privatized and transferred to new investors as part of Saudi Arabia’s broader sports privatization strategy.

Ben Harburg, the founder and managing partner of Harbinger Group, said the acquisition of Al-Kholood was a "tremendous honor," positioning the group as the first foreign entity to fully own a top-tier Saudi football club.

"We are on the cusp of extraordinary growth under Saudi Arabia’s Vision 2030, especially with the Kingdom hosting the FIFA World Cup in 2034," Harburg said in a video statement shared by the Ministry.

"During our due diligence process, we reviewed multiple clubs, but Al-Kholood stood out due to its strong trajectory, passionate fanbase, and the dynamic Al-Qassim region."

Brian Wright Vias, a senior member of Harbinger, described the acquisition as both a privilege and a great responsibility.

“We are grateful to the Ministry of Sports and to the Saudi people for this opportunity,” he said.

“Our goal is not to buy global stars, but to develop them — to build Saudi talent and make them global exports.”

Unlike the Kingdom’s four elite clubs — Al Hilal, Al Nassr, Al Ittihad, and Al Ahli — which are majority-owned by the Public Investment Fund (PIF) and have attracted world-class players like Cristiano Ronaldo, Karim Benzema, and Neymar, Al-Kholood currently does not field global superstars. But the new owners believe in long-term development.

This milestone is part of the Saudi Ministry of Sports’ privatization initiative, in collaboration with the National Center for Privatization.

The program aims to foster private sector participation and enable clubs to become financially sustainable, talent-driven entities that contribute to the growing sports ecosystem.

Since 2022, Saudi Arabia has significantly ramped up its investment in football, highlighted by Ronaldo’s record-setting arrival and a wave of international signings, sponsorships, and global tournaments hosted across the Kingdom — from Formula 1 and LIV Golf to boxing, MotoGP, and the Spanish and Italian Super Cups.

With the privatization of Al-Kholood, Al-Ansar, and Al-Zulfi, Saudi Arabia has taken a major step forward in transforming its domestic football landscape and welcoming international partnerships as part of Vision 2030’s sports transformation goals.