Saudi Arabia’s Public Investment Fund (PIF) is reportedly working with its portfolio companies to help repay 800million riyals ($213million) in debt owed by Cristiano Ronaldo’s Al Nassr.
According to Semafor, PIF is arranging corporate sponsorship deals to strengthen the club’s finances ahead of a potential sale to a consortium led by RedBird Capital, the owner of AC Milan. RedBird’s interest remains at an early stage, and a deal is not guaranteed.
The investment firm has held at least two meetings with PIF about acquiring a 70% stake in Al Nassr. RedBird and its partners could pay approximately 1billion riyals ($267million) for the stake, while Ronaldo is expected to retain a 20% share.
Other potential investors include Saudi Media Company (SMC), a privately owned Riyadh-based media, sports and entertainment firm.
However, final terms have yet to be agreed upon and could change. RedBird and PIF declined to comment, while Al Nassr and Ronaldo’s representatives did not immediately respond to requests for comment.
A potential investment would strengthen Gerry Cardinale’s RedBird’s relationship with Ronaldo, one of the world’s most marketable athletes. His investment firm, CR7, already holds a 25% stake in Spanish second-division club UD Almeria, which is backed by SMC.
RedBird acquired AC Milan in 2022 and manages approximately $21billion in assets. The firm has also established a presence in the media industry, financing high-profile transactions involving Skydance, Paramount and Warner Bros. Discovery.
A deal for Al Nassr would place RedBird at the centre of Saudi Arabia’s expanding sports industry, which has faced spending cuts after years of substantial investment.
If the Al Nassr deal proceeds, the proposed consortium hopes to reduce costs and expand the club’s commercial reach through media and marketing partnerships with other companies within RedBird’s and SMC’s portfolios. The investors also reportedly aim to strengthen Al Nassr’s profile in the United States.
RedBird Capital Partners owns AC Milan and has held an 11% stake in Fenway Sports Group (FSG) since 2021. FSG, led by principal owner John Henry, reportedly used part of that investment to fund projects, including the redevelopment of Liverpool’s Anfield Road Stand.
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