[Saba Sports News] According to Saudi media, the Public Investment Fund (PIF) has begun implementing urgent measures to resolve the severe financial crisis engulfing Al-Nassr, especially with the club subject to rigorous financial oversight by the Saudi Pro League. Sources close to PIF disclosed that three key courses of action have been finalised. First, certain financial powers of the club company’s current executive management will be restricted. Second, the fund will engage independent financial, commercial and legal consultancy firms. Their mandate is to boost commercial revenue, cut costs and enhance the club’s financial sustainability, while putting forward timed recommendations and solutions to steer Al-Nassr out of its financial troubles. Third, PIF will assess offers from parties interested in acquiring the Riyadh-based club. Sources close to the Public Investment Fund stated that the executive management will be prohibited from signing any contracts with players or coaches unless available liquidity is secured via sponsorships and the club’s own revenue streams. The sources also revealed that PIF is reviewing two serious takeover bids it has received for the club and leans towards a partial acquisition model.
Al-Nassr FC’s current debts exceed 800 million Saudi riyals, largely as a result of financial decisions made during the previous sporting season. At present, Al-Nassr will not complete any signings unless the executive management can secure liquidity generated from the club’s own revenue.