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Al-Nasr Club is currently suffering from a crippling financial crisis which is clearly threatening its operations in the current summer transfer window.
Al-Nasr Club have so far failed to make any deals in the summer Mercato due to this crisis, despite agreeing to sign Real Mallorca’s Portuguese midfielder Samo Costa, and have not even decided to extend the contract of their player Abdul Rahman Gharib.
And it was revealed Saudi Al-Riyadiya newspaper Regarding the causes of this crisis, he confirmed that Al-Nasr Club’s debts currently exceed 800 million Saudi Riyals, resulting from financial decisions made during the past season.
The newspaper explains that the Saudi Public Investment Fund, which owns Al-Nasr, has decided to deal with this crisis in three ways, with the aim of preserving the club’s financial, public and marketing values and not doubling those debts.
The first way involved limiting some of the financial powers of the current executive management, which prevents the club from signing any contracts in the current period.
The newspaper states that Al-Nasr will not sign any new contracts in the current summer Mercato until the executive management secures liquidity from the club’s revenues.
That’s why the second way came, which consists of signing contracts with financial, commercial and legal consulting companies, increasing commercial income, adjusting expenses, providing recommendations and solutions with a time plan to save the club from a difficult financial situation.
As for the third and final way, it is the study of the proposals that Al-Nasr Club wants to acquire, as the Public Investment Fund is studying two serious proposals on its table, but prefers that the acquisition be partial.
Al-Nasr fans hope a third solution will come as soon as possible, following the example of neighbor and arch-rivals Al-Hilal, which was acquired by Prince Alwaleed bin Talal’s Kingdom Holding last April.
