Estimated read time: Less than a minute
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
GENEVA — Saudi Arabia has made its ambitious intentions in world soccer even clearer by announcing a "privatization project" for companies to spend more on clubs, as it continues a push to sign some of the world's top players. As part of the move, the Saudi Public Investment Fund has taken a majority ownership stake in four of the country's top clubs, including Cristiano Ronaldo's Al Nassr. The Saudi public sector organizations are also encouraged to invest in sports, with soccer teams a priority under the initiative backed by Crown Prince Mohammed bin Salman. The state-owned press agency says the Saudi Pro League will get support "to be amongst the top ten leagues in the world."
