Al Nassr move closer to summer recruitment after financial overhaul

Al Nassr have overcome the financial crisis that had prevented them from making new signings this summer, with the club’s restrictions now lifted before the transfer window closes.

The Saudi Pro League side have yet to complete a deal during the current summer window, despite reaching an agreement with Samu Costa, the Portuguese midfielder from Mallorca. Their proposed move for Costa had been held up by financial limitations imposed on the club.

According to the Saudi newspaper Al-Riyadiyah, those restrictions have now been removed after Al Nassr addressed the issues affecting their finances. The development means the club can proceed with the recruitment of new players before the end of the summer market.

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The Public Investment Fund, which owns 75% of Al Nassr, is understood to have taken several steps to help the club resolve the situation within a short period.

One of the measures involved making use of recently agreed commercial contracts with two companies. Al Nassr also reorganised their existing and future financial commitments in an effort to strengthen financial stability and support the long-term sustainability of the club’s operations.

The Public Investment Fund also brought in specialist advisory firms to improve Al Nassr’s financial, administrative, legal and commercial structures. The work was intended to ensure the implementation of stronger financial governance practices, while improving spending efficiency and supporting greater financial sustainability.

After that process, Al Nassr submitted the necessary guarantees to the relevant regulatory authorities. Those guarantees were designed to demonstrate improved spending controls and the restructuring of financial obligations, while providing further support for the club’s stability and sustainability.

The club is currently preparing the required documents for the relevant authorities in line with the applicable regulations. Once that process is completed, Al Nassr will be able to finalise their preparations for the new season and complete further transfers.

Samu Costa is expected to become Al Nassr’s first signing of the summer. Reports say the club reached an agreement with Mallorca to sign the midfielder for 9m euros in July, although the financial restrictions prevented the transfer from being completed earlier.

Al Nassr will begin the new season on Saturday, 15 August, when they face Al Fateh in the opening round of the Saudi Pro League.

The club are aiming to retain the Saudi league title, which they won last season after a seven-year wait. They will also target a first-ever triumph in the AFC Champions League Elite, having made continental success one of their main ambitions for the campaign ahead.