Cristiano Ronaldo’s Al Nassr’s Budget Takes a Big Hit as Saudi Government Snatches Revenue

The last transfer window marked a revolution as major soccer names followed the footsteps of Cristiano Ronaldo. After the Portuguese soccer legend was offered a jaw-dropping $500 million deal, the clubs offered lucrative deals to Europe’s other big names too. The once-flourishing financial comforts enjoyed by a few Gulf clubs, including Al Nassr, have suffered an unexpected blow due to a certain adjustment in the budget by the government.

The shocking news comes just hours after Al Nassr clinched AFC Champions League qualification for the RO16. Moving forward, will this new financial system affect their presence in the transfer market?

Government to take control over the revenue of Cristiano Ronaldo and Co

Recently, the Saudi Arabian government held its annual meeting to approve the budget for 2024. Aside from discussing the finances of the country, Saudi Arabia’s Public Investment Fund (PIF)-backed soccer clubs—Al Nassr, Al Hilal, Al Ittihad, and Al Ahli—were also on the agenda. The Gulf country’s finance minister, Mohammed Al-Jadaan, delivered shocking news for the big four. He said, “The revenues of the four big clubs will return to the Public Investment Fund, not the budget”. Does this would mean they wouldn’t be able to spend extra? Rather, would they be forced to spend as allowed by the committee?

Notably, this isn’t the first time the Saudi PIF delivered a major shock to Ronaldo’s Al Nassr. Earlier, their financial support was stripped away, and the Knights of Najd were forced to act on their budget. On the other hand, it’s quite ironic, given that Saudi’s big four seemingly used PIF’s money to splurge millions. It remains to be seen how the clubs react to this shocking news. Meanwhile, speaking of Saudi PIF’s assets, they now look to add two European clubs to their investment portfolio too.

Saudi PIF eyeing the takeover of two European clubs 

Following the acquisition of substantial stakes in the top four Saudi clubs, Saudi Arabia’s Public Investment Fund (PIF), led by Prince Mohammed bin Salman, is now eyeing major European targets, specifically Valencia CF and Olympique de Marseille. With a formidable valuation of $650 billion, the PIF is poised to privatize Saudi clubs and broaden its global investments.

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The PIF has already dipped its toes into the European market by acquiring Newcastle in 2021 for an impressive $415 million. This suggests a calculated move by the billion-dollar entity to assert its dominance through subsequent financial investments. What are your thoughts on this? Let us know in the comments.

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