The 37-year-old striker, who arrived in Riyadh last week, is by far the most famous player to join a Gulf team. Ronaldo will receive 200 million euros as part of his two-and-a-half-year contract with Al-Nassr, and “another 200 million” to be the “ambassador” of the joint candidacy that Saudi Arabia plans to submit with Greece and Egypt to organize the World Cup in 2030said a source close to the negotiations, who requested anonymity.
The sovereign wealth fund put to use
The arrival of the former Manchester United, Real Madrid and Juventus player is part of the kingdom’s desire to attract attention to its championship while its Qatari neighbor has just hosted the 2022 World Cup. Ronaldo, five-time Ballon d’Or and record-breaking goalscorer is set to make his Al-Nassr debut on January 22.
According to the same source, the agreement was supported by members of the royal family, including the crown prince and de facto ruler of the country, Mohammed bin Salman, often referred to by his initials MBS. “MBS and (his brothers) Naif, Turki and Rakan, the children of King Salman, are all honorary members of Al-Nassr, when their father was not yet crown prince”.
“They wanted to give supremacy to their club and put it in the spotlight. The best way was to bring the best player in the world,” she added. According to this source, the sovereign wealth fund of the Saudi kingdom, Public Investment Fund (PIF), was put to use.
“It was the brothers of MBS who suggested the agreement and sought to finalize it at all costs”
“Al-Nassr and the other Saudi clubs do not have the necessary funds for such a contract. It was PIF who guaranteed the payment”. The Saudi sovereign wealth fund, which is investing more and more in the world of sport, bought English football club Newcastle last year. It also funds LIV Golf, a tour that has divided the golf world by attracting the biggest stars of the US PGA Tour and DP World Tour.
Another source close to Al-Nassr confirmed to AFP that the princes were behind the surprise deal. “It was the MBS brothers who suggested the deal and sought to complete it at all costs,” she said. “They are all fans of Al-Nassr and wanted to prove that their team could reach an international level,” she added, referring to the nickname given to the capital club.
Al-Nassr has won nine Saudi league titles but has never won the Asian championship, unlike rivals Al-Hilal, who won four times, and Al-Ittihad, who won it twice.
(With AFP)