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Al-Hilal, a Saudi Arabian football club, has made a record-breaking bid of £259 million for Kylian Mbappe, a striker for PSG.
PSG has accepted the transfer fee as they are eager to sell Mbappe this year to avoid losing him as a free agent next summer.
Al-Hilal has been given permission to speak with Mbappe, but the player is reportedly uninterested in a move to the Saudi Pro League and would prefer to wait for a potential transfer to Real Madrid in 2024.
In addition to the transfer fee, Al-Hilal has offered Mbappe an astonishing £604 million in wages for just one season with the club.
The majority owner of Al-Hilal is the Public Investment Fund (PIF), which holds a 75% share, while the remaining 25% is controlled by the Al Hilal Non-Profit Foundation.
The PIF is the sovereign wealth fund of Saudi Arabia and is one of the largest in the world, with estimated assets of around £320 billion.
It was established in 1971 to invest money on behalf of the government and has been under the control of Crown Prince Mohammed bin Salman since 2015.
The PIF has been actively involved in diversifying Saudi Arabia’s economy away from oil dependence and has made significant investments in various sectors, including sports.
In 2021, the PIF acquired an 80% stake in Newcastle United, a Premier League club, and also took a 75% stake in three other major teams in Saudi Arabia: Al-Ittihad, Al-Ahli, and Al-Nassr.
Al-Hilal, the most decorated team in Asia, has won 66 official honors, including a record eight AFC Champions League titles.
In terms of player signings, Al-Hilal has recently acquired Ruben Neves from Wolves for £47 million, Sergej Milinkovic-Savic from Lazio for £34 million, and Kalidou Koulibaly from Chelsea for £17 million.
The squad also includes players such as Matheus Pereira and Moussa Marega, although they are not currently registered to play.
Andre Carrillo, a former Benfica and Sporting winger, has been with Al-Hilal since 2018.
This article was updated 10 months ago
