Al-Ittihad's future hangs in the balance. The Saudi giants are moving rapidly towards privatisation, throwing the door open to new investors, with two consortiums now reportedly battling to acquire one of the Kingdom's most storied and best-supported clubs. The outcome could mark a major turning point in the club's history.
Saudi media figure Abdullah Falatah claims the sale has moved well beyond talk. According to him, the process has reached advanced practical stages after two consortiums submitted offers to the body overseeing the acquisition, though the identity of the final buyer remains under wraps.
Speaking on the "Al-Mansa" programme on the "Thmanyah" network of channels, Falatah insisted the procedures are heading in the right direction. He hopes the whole thing will be wrapped up before the current season ends.
"I expect and hope that the matter will be completed by the end of the season, because the procedures are moving forward, and some commitments have entered the current stage," he said.
Everything points to the privatisation reaching decisive stages, with the moves surrounding the sale showing no sign of slowing. Even so, nobody has yet named the winning investor or confirmed a final agreement to transfer ownership.
Al-Ittihad are not alone in this. The sale forms part of a wider push to privatise Saudi sports clubs under the Kingdom's Vision 2030, which aims to draw more private sector money into sport, tighten governance and deliver financial sustainability across the board.
Reports suggest the Public Investment Fund wants to sell 70% of Al-Ittihad's shares while holding on to a 30% stake. That would hand majority ownership to a new investor, with the Fund staying on as a partner.
For Al-Ittihad, the move opens up a chance to tap into private investment. Fresh backing could boost their finances and sharpen their competitive edge, all while protecting the club's historic standing and vast fan base.
Progress has been made and more than one party is circling, yet the details tell a different story. Neither the value of the offers nor the identity of the body set to win the largest share have been officially revealed.
Two consortiums in the running points to genuine interest in investing in the club, according to Falatah. Sealing the deal, though, still hinges on completing the necessary procedures and agreeing final terms between the parties involved.
The end of the current season is the target Falatah has in mind. For now, everything rests on what the coming weeks produce.