Al-Ittihad Ownership Overhaul Delayed Amid Rivalry with Al-Hilal
Al-Ittihad have watched their great rivals Al-Hilal stride into a new ownership era. For now, they are stuck in the waiting room.
According to Saudi newspaper "Okaz", the long-anticipated takeover of Al-Ittihad remains bogged down in evaluation and review, with officials still sifting through candidates to identify a new strategic investor. The process is not close to the finish line. It could stretch all the way to the end of 2027, depending on how assessors rate the financial muscle and administrative depth of the bidders.
The files are on the table. The scrutiny has intensified.
"Okaz" report that negotiations with the relevant parties are ongoing, while the assessment of the submitted bids has moved into a decisive phase. Officials have now dived into the financial and administrative specifics, conducting a final round of checks that will determine who, if anyone, gets the green light to take control of one of Saudi Arabia’s most storied clubs.
Those checks are not cosmetic. Each investor is being tested on funding sources, financial commitments and their ability to shoulder the heavy demands of owning and operating Al-Ittihad in both the near and medium term. It is a stress test of ambition, stability and long-term planning.
The review covers both local and foreign investors, all of them bound by a strict regulatory framework laid down by the current owning entity. One key condition stands out: any ownership structure must include a local partner. Foreign money can come in, but it cannot stand alone.
Local investors are treated differently. They are allowed to apply for individual ownership and can acquire up to 70% of the club’s shares, provided they prove the required financial strength and administrative competence. In other words, deep pockets are not enough; the authorities want governance, structure and a clear ability to run a modern football institution.
While Al-Ittihad’s future remains on hold, Al-Hilal have already made their move. They were the first of the four major Saudi clubs to step out from under the umbrella of the Saudi Public Investment Fund. Last April, 70% of Al-Hilal’s shares passed to Kingdom Holding Company, owned by Prince Al-Waleed bin Talal, a landmark shift that underlined the club’s pull in the new era of Saudi football investment.
That deal set a benchmark. It also sharpened the contrast.
Al-Hilal have their new backers and a clear ownership structure. Al-Ittihad, by comparison, are still waiting for the decisive signature, their next chapter trapped in red tape and risk assessments. The rivalry has moved off the pitch and into the boardroom, and for now, only one of them has crossed the line.
