Cristiano Ronaldo and Milan owner seek takeover of Al-Nassr By Carolina Costa
2 min read
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Portuguese forward Cristiano Ronaldo and Milan owner Gerry Cardinale formed an investment group on September 15, 2026, to negotiate the acquisition of a controlling stake in Al-Nassr directly from the Public Investment Fund of Saudi Arabia in Riyadh. The proposed transaction would place the duo in executive charge of the Saudi Arabian team.
Structure of the five-member consortium
Five partners compose the corporate vehicle organized to purchase the majority equity interest held by the sovereign wealth fund. Three Saudi Arabian sports business executives complete the investor group alongside the Portuguese striker and the American financier. Talks remain underway.
- The Public Investment Fund of Saudi Arabia retains 75% of Al-Nassr shares.
- Cristiano Ronaldo holds an existing 5% stake in the Riyadh club.
- Three domestic sports entrepreneurs joined the purchasing group.
The syndicate requires multi-million capital injections from each individual participant to satisfy the financial valuation demanded by the governmental authority, while all parties keep specific contract amounts under institutional secrecy.
Expansion of private ownership in Riyadh
The purchasing group seeks formal alignment with directors at the Public Investment Fund of Saudi Arabia to transfer the 75% majority stake out of state control. Cristiano Ronaldo arrived at Al-Nassr in late 2022 to spearhead the international transformation of the domestic league, and the veteran forward intends to expand his personal equity beyond his current 5% club ownership if the acquisition closes successfully.
Gerry Cardinale expands global football footprint
American executive Gerry Cardinale manages Milan through his private investment firm RedBird Capital Partners. RedBird Capital Partners purchased the Italian club in 2022 before pursuing wider holdings across international sports. Cardinale aims to expand operational oversight into the Middle East through this joint transaction in Riyadh.
Cristiano Ronaldo builds corporate sports portfolio
The bid for Al-Nassr represents a wider push by Cristiano Ronaldo into commercial sports ownership.
Cristiano Ronaldo previously acquired a 25% stake in Spanish second-division club Almería in February 2026. That transaction secured the forward a formal seat on the corporate board of the European team.
