The case of Saudi team's first overseas sale came out...Investment Group Acquires Al-Collud
Jul 29, 2025
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U.S. business magazine Bloomberg said the investment firm, the Harburg Group, acquired a 100% stake in Al-Kolud through a privatization bid led by the Saudi government. This is the first time a Saudi soccer team has been acquired by a foreign community. A spokesperson for the Saudi Ministry of Sports said "This bid was made through a transparent and professional process. We are proud to meet a new partner who can share our goal of taking the leap to a world-class level both on and off the field."
Harburg Group is a venture capital firm founded by Ben Harburg. Prior to Al-Collud, he also owns a stake in Cardis, a member of Spain's Segunda División (second division). It was not disclosed how much Harburg Group spent on the acquisition of Al-Collud.
Founded in 1970, Al Colud is a team based in alas, northwest of Riyadh. Like any team in the Saudi League, he started as a royal-owned club and was promoted to the Saudi first division last season, ranking ninth out of 18 teams. With Romanian coach Cosmin Contra leading the team, it is considered a team that does not have a big name like the top team, but has a strong teamwork.
The acquisition is expected to be a significant turning point for Saudi soccer. The Saudi league has been absolutely dependent on the finances of the government and the royal family. Starting with Cristiano Ronaldo, he invested an astronomical amount of money to recruit European big names one after another, but most of it came from the government and royal pockets. As a result, the league itself was forced to go to a structure that was difficult to operate without their support, and there were many doubts about its soundness. However, as Europe has grown to such an extent that it cannot be ignored, it seems that it is starting to attract the attention of foreign companies, and it is expanding to the outside world. It is also impressive that unlike other Asian and European countries, where foreign companies' direct ownership and operation of clubs is not easy by related laws, they have flexibly attracted overseas investment and even sold clubs.
Reporter Park Sang-kyung ppark@sportschosun.com
This article was translated by Naver AI translator.
