2023-06-22 22:14:48
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Posted on: Friday, June 23, 2023 – 1:14 am | Last updated: Friday, June 23, 2023 – 1:14 AM
The General Assembly of the non-profit Al-Hilal Foundation announced that the “Fahd bin Nafel” list, headed by the club, won by acclamation.
The new formation of the profit-making organization that will manage the Saudi club comes in light of the project launched by Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, which is the investment and privatization project for sports clubs.
The first track of the project transferred the four clubs “Al-Hilal, Al-Nasr, Al-Ittihad and Al-Ahly” to companies that the Saudi Public Investment Fund owns 75% of, while the remaining “25%” goes to non-profit institutions.
Fahd bin Nafel headed Al-Hilal Club in 2019, and left his position on June 6, following Mohammed bin Salman, the Crown Prince, launched the investment and privatization project for sports clubs.
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