Former Al Nassr spokesman rejects Ronaldo stake and reported 800 million riyals debt

Saud Al-Sarami, Al Nassr's former spokesman, made the denial on Al-Arabiya FM's Malaeb programme, in comments GOAL reported on 20 October. He said Ronaldo "will not be an investor in Al-Nassr club, whether with 20% or even 1%." He also said the 800 million riyals ($213 million) of debt being discussed "does not exist in the first place" and that Al Nassr "owes no money." He added that Ronaldo "does not want to be an owner of any club, whether Al-Nassr club or any other." The remarks were not an official club statement, Nogomania reported.

The reported terms

Semafor reported on 19 October that a consortium led by RedBird Capital Partners had held at least two meetings with the Public Investment Fund about buying 70% of Al Nassr for about 1 billion riyals ($267 million). Ronaldo was put at up to 20% under the proposed structure, with Riyadh-based Saudi Media Company named as another possible investor. GOAL reported that the one-billion-riyal figure came from the Saudi newspaper Arriyadiyah. Semafor said the fund was arranging sponsorship deals with companies in its own portfolio to clear about 800 million riyals ($213 million) of debt before a sale.

On a straight proportional basis, the price implies an equity valuation of about 1.43 billion riyals ($381 million), before any treatment of the club's debt, Inside World Football reported. RedBird and the fund declined to comment to Semafor, and Al Nassr and Ronaldo's representatives had not responded to its requests.

Al Hilal benchmark

Billionaires.Africa reported that the Al Nassr talks follow the first sale of one of the four clubs. Inside World Football reported that the fund sold 70% of Al Hilal to Kingdom Holding Company in September for 840 million riyals, valuing the club's equity at 1.2 billion riyals. Billionaires.Africa dates the same Al Hilal agreement to April and puts the valuation at 1.4 billion riyals ($373 million). The accounts differ on the date and on the equity valuation; Billionaires.Africa gives no purchase price.

Ownership and Ronaldo's contract

Billionaires.Africa reported that the fund took 75% of Al Nassr, Al Hilal, Al Ittihad and Al Ahli in 2023 as part of a government plan to privatise the country's sports clubs. The report said the Ministry of Sport transferred the remaining 25% of Al Nassr, held by the club's nonprofit foundation, to the fund in August, leaving it as sole owner and only seller. Al Nassr has spent heavily on players since Ronaldo's arrival and was placed under a league-imposed transfer ban earlier this year.

Ronaldo's contract gives him a priority right to buy up to 20% of Al Nassr if the club opens to private investors, according to people close to the talks cited by Billionaires.Africa. How the stake would be paid for and how the final shares would be split remain unclear. He joined at the start of 2023 after leaving Manchester United and signed a two-year extension in June 2025 that runs to 2027.

His investment company, CR7, holds 25% of Spanish second-tier side UD Almeria, which is controlled by Saudi Media Co., Billionaires.Africa reported.

RedBird, founded by Gerry Cardinale, bought AC Milan in 2022 for about €1.2 billion ($1.34 billion), owns Toulouse, holds a minority stake in Fenway Sports Group and manages about $21 billion, Billionaires.Africa reported. People familiar with the talks said prospective investors want to raise Al Nassr's profile in the United States.

No completed deal

Billionaires.Africa reported that a person close to the fund described RedBird's interest as early and said a deal might not happen. Al-Sarami said he expected the negotiations to end at that early stage. No completed transaction has been announced, and the proposed percentages and price remain reported negotiating terms.