Cristiano Ronaldo’s Al-Nassr is reportedly among four clubs being offered for sale by Saudi Arabia’s Public Investment Fund as it seeks to reduce spending.

Al-Nassr, Al-Ittihad, Al-Ahli and Al-Hilal – the country’s four biggest clubs – were placed under the ownership of the Saudi PIF back in 2023.

The PIF announced it would own 75 per cent of each club, with the remainder under the control of the country’s Ministry of Sport.

Saudi Arabian journalist Ahmed Al-Ajlan has reported that in major shift, the PIF are now looking to sell the four clubs to investors.

The sales would include the 25 per cent stake owned by the Ministry of Sport.

According to the report, a race is on to sell Al-Hilal, with Saudi billionaire Prince Al Waleed bin Talal emerging as the frontrunner to purchase the club, ahead of former Sheffield United owner Prince Abdullah bin Mosaad.

Prince Al Waleed, who is a golden member of Al-Hilal, notably sent his luxury Boeing 747 to transport Neymar in preparation for his transfer to the club in 2023.

The PIF’s initial large-scale investment in these major clubs and their transfer activities was reportedly a strategy to showcase Saudi Arabia’s dedication to enhancing their domestic league, aligning with the Vision 2030 project of the country.

In the prior month, a new initiative named the ‘club financial performance improvement’ project was launched to supervise the financial conditions of Saudi Arabian clubs.

‘The project focuses on monitoring the implementation of approved budgets, controlling operational expenditures, and rationalising spending,’ a statement read.

‘These efforts aim to minimise the risk of future financial liabilities and enhance clubs’ ability to achieve financial stability and sustainable growth within a more professional operating environment.

‘These development measures demonstrate the Ministry of Sport’s commitment to enabling clubs to operate within a stable and integrated financial framework. 

‘This approach supports the growth of the sports sector and reinforces its long-term sustainability, in alignment with the goals of Saudi Vision 2030 to build a professional sporting environment rooted in governance, transparency, and sustainability.’

Saudi Arabia’s big four have still invested this summer, with Al-Hilal spending a combined £76m to sign Darwin Nunez from Liverpool and Theo Hernandez from AC Milan.

Al-Nassr have spent £64m on signing Kinsley Coman and Joao Felix from Bayern Munich and Chelsea, respectively. The club also confirmed in June that Ronaldo had signed a two-year contract extension, worth a reported £492million.

Al-Ahli’s biggest summer signing to date is Enzo Millot, who joined from Stuttgart for £27m, while Al-Ittihad have spent just £19million in total.

Despite the investment, it has represented a shift from the initial burst of activity when clubs spent close to £750million on players ahead of the 2023-24 season.

The potential sale of Saudi Arabia’s big four clubs comes after the government openly announced plans last year to pursue investment and seek privatisation.

Last month, the Ministry of Sports confirmed the privatisation of three clubs with Al-Kholood becoming the first to be opened by foreign investors.

Al-Kholood was sold the the Harburg Group, which is led by US investor Ben Harburg.

The American group has since rebranded the club’s crest and confirmed the appointment of former Oxford United manager Des Buckingham as their new boss.

Al-Zulfi and Al-Ansar were sold to Saudi Arabian entities.

On Wednesday, the Saudi Ministry of Sports announced it was inviting expressions of interest in Pro League clubs Al-Najma and Al-Okhdood and stated it formed part of the second phase of their investment and privatisation project.