Al Hilal’s money, Where do they get it from?
Turki Al-Sahli, a Saudi writer, created a storm of questions about Al-Hilal’s money. He published an article regarding the ambiguity surrounding the funding sources of Al-Hilal Club of Saudi Arabia.
According to the club’s vice president, Fahd bin Nofal, Al Hilal depends on government support, Al-Waleed bin Talal and the club’s sponsors.
The support strategy showed that Al-Hilal received 114 million Saudi riyals. However, it remained in debt with 24 million for the 2020-2021 season. This is according to the recent report of the Financial Efficiency Committee.
According to Al-Sahli, during this period, the club signed with 6 coaches, 14 foreign players, and 6 local players.
After these resounding deals, Al Hilal won two league and cup titles and one continental championship.
The Consistency of Al Hilal’s Money
The writer is surprised that, despite all the variables, the only constant is the good financial stability of the club.
Al-Sahli questioned the secret of this stability and the absence of financial accumulations on the club, unlike the rest of the Saudi clubs.
He gave Al-Nasr Club as an example. The Saudi Federation placed a ban on its contracts until it showed its ability to fulfill its financial obligations.
Al-Sahli said, “The Ministry of Sports announces the government’s support for Al-Hilal in transparency and clarity. Whereas, the senior golden member does not advertise. And sponsors do not cover its high cost as a club standing at the head of the richest clubs.”
He added, “Where did the club get the money that paid it to achieve titles and fire and hire people?”
Moreover, the article continued, “Whatever government support is, it cannot make Al-Hilal this financially sufficient. Also, Al-Waleed bin Talal appears to be “far away”. We have not heard in a day that the man pumped into the club’s account eighty, or ninety million Saudi riyals.”
Al-Sahli continued, “Furthermore, we do not know how much the sponsoring companies, that bin Nofal put in the category of covering expenses, sponsor.”
The writer pointed out that there are no assets or investments for the club that could generate money for it. Also, the club is not tied to major international marketing contracts. Thus, where do they get it from?
See also: Al Nassr Club deals and controversy