Saudi Football Club Acquired by Harburg in First Foreign Deal
The Saudi Pro League ball is seen on stand prior a match at King Abdul Aziz Stadium in Mecca, Saudi Arabia.
Photographer: Yasser Bakhsh/Getty ImagesA Saudi Pro League football club has been acquired by Harburg Group, the global sports firm founded by foreign investor Ben Harburg, in the first deal of its kind for the kingdom.
Harburg Group completed the outright acquisition of Al-Kholood Club in a transaction led by the Saudi Ministry of Sport and the Saudi National Center for Privatization, according to statements on Thursday. Financial terms were not disclosed.