Neymar transfer: Saudi club seals $100M deal with PSG

Neymar set to join Saudi Pro League in record-breaking transfer deal with Al Hilal, backed by oil-rich state.

In a groundbreaking move, Neymar is on the verge of joining the Saudi Pro League, with Al Hilal agreeing to a staggering transfer fee of 90 million euros ($98 million US) with Paris Saint-Germain. This record-breaking fee showcases the league's commitment to investing in top-tier football talent, thanks to the support of the oil-rich state.

Al Hilal is determined to make a statement signing that rivals its city rival, Al Nassr, who secured Cristiano Ronaldo's services earlier this year. Despite their efforts, recent offers to Lionel Messi and Kylian Mbappe, Neymar's former teammates at PSG, were not accepted.

Reports suggest that Neymar has been offered a two-year contract that would see the 31-year-old Brazilian star earn an annual salary of approximately $100 million. This figure is roughly half of what the 38-year-old Ronaldo is reportedly earning.

While Neymar and PSG reached an agreement last week that he could leave, it was widely reported that his preference, much like Messi's a few weeks ago, was to return to his former club Barcelona. However, Barcelona's financial difficulties have made such deals challenging, leading Messi to choose Major League Soccer's Inter Miami in June.

Al Hilal is among the four prestigious Saudi clubs that have effectively been nationalized by the sovereign wealth Public Investment Fund (PIF), which boasts assets of around $700 billion. This includes the LIV Golf series, which once challenged the PGA Tour before the two organizations decided to collaborate.

The PIF is led by Saudi crown prince Mohammed bin Salman, whose global sports ambitions have become a defining policy. Neymar's signing represents another step forward in realizing these ambitions.

Interestingly, Neymar's signing coincided with Al Hilal's season-opening league game, where they faced Abha. This match also marked the league debuts of Brazilian winger Malcom and Portuguese midfielder Ruben Neves, who were acquired by Al Hilal for reported fees of 60 million euros ($65 million) from Zenit St. Petersburg and 55 million euros ($60 million) from Wolverhampton, respectively.