French striker Karim Benzema has reportedly signed a lucrative three-year deal worth £86million-per-season with Saudi Arabian club Al-Ittihad after leaving his 14-year career at Real Madrid. According to reports, the Jeddah-based Saudi Pro League champions are set to confirm the signing in the near future. This news comes after Benzema scored a penalty on what would be his farewell appearance with Real Madrid, drawing 1-1 against Athletic Bilbao.
Having played in 648 appearances for Real Madrid, Benzema has scored a total of 354 goals and won LaLiga 4 times, Spanish Cups 3 times, and 5 Champions League trophies. His new deal is said to be tax-free and includes add-ons for promoting Saudi Arabia’s bid for the 2030 World Cup.
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According to sources, Al-Ittihad’s head coach is former Wolves and Tottenham coach Nuno Espirito Santo. The club had a successful season, finishing five points clear of Al-Nassr, led by Cristiano Ronaldo.
In addition, it was announced on Monday that Saudi Arabia’s Public Investment Fund (PIF) has acquired a 75% stake in Al-Ittihad, Al-Nassr, Al-Hilal, and Al-Ahli. The country’s sovereign wealth fund has transformed the clubs into companies, with each club owned by PIF and non-profit foundations. The ownership split is 75% for PIF and 25% for each respective non-profit foundation. The move is expected to create new commercial opportunities, such as investment and sponsorships across various sports.
The club’s acquisition by Saudi Arabia’s Public Investment Fund (PIF) is a significant development in Saudi Arabian football and marks the country’s growing interest in the sport. With the World Cup scheduled to be held in the region in 2030, the country is investing heavily in improving the quality of its football infrastructure and attracting top talent to the country.
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This signing not only reflects Al-Ittihad’s ambitions but also amplifies the growing trend of foreign investment in football clubs across the world. Additionally, this move may set a precedent for future signings by Saudi Arabian clubs and become a catalyst for other Middle Eastern countries to also invest in football.
With the confirmation of Benzema’s move imminent, football fans eagerly await to see the French striker perform on the pitch for Al-Ittihad and judge his abilities to help the team achieve even greater successes in the future.
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