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Diriyah Club Ownership Transferred to Diriyah Company; New Board Formed

Diriyah Club Ownership Transferred to Diriyah Company; New Board Formed
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Diriyah Club Ownership Transferred to Diriyah Company; New Board Formed

Diriyah Club Ownership Transferred to Diriyah Company; New Board Formed

The Diriyah Company announced the completion of the ownership transfer procedures of Al-Diriyah Club from the National Center for Privatization (NCP) to Diriyah Company, owned by the Saudi Public Investment Fund (PIF).

The step comes as part of the Sports Clubs Investment and Privatization Project announced by Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, in June of last year, reported the Saudi Press Agency on Monday.

The initiative aims to support and develop the sports sector and encourage and empower the private sector to contribute effectively to the sports field, in line with the goals of Saudi Vision 2030.

The company's board of directors, chaired by the Crown Prince, has approved the formation of Al-Diriyah Club’s Board of Directors, chaired by Prince Khalid bin Mohammed bin Saud, with membership including Jerry Inzerillo, Mohammed Al-Khreiji, Ayman Al-Fallaj, and Hamad Al-Bati.

Founded in 1976, the club is preparing to compete in the Saudi Second Division League (SDL) during the upcoming 2024/2025 sports season, after being placed in Group 2 as announced by the Saudi Arabian Football Federation (SAFF).

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Tax Evasion Trial for Real Madrid Coach Carlo Ancelotti Opens in Spain

Real Madrid's head coach Carlo Ancelotti (C) arrives to stand trial over alleged tax fraud, in Madrid, Spain, 02 April 2025. EPA/JJ GUILLEN
Real Madrid's head coach Carlo Ancelotti (C) arrives to stand trial over alleged tax fraud, in Madrid, Spain, 02 April 2025. EPA/JJ GUILLEN
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Tax Evasion Trial for Real Madrid Coach Carlo Ancelotti Opens in Spain

Real Madrid's head coach Carlo Ancelotti (C) arrives to stand trial over alleged tax fraud, in Madrid, Spain, 02 April 2025. EPA/JJ GUILLEN
Real Madrid's head coach Carlo Ancelotti (C) arrives to stand trial over alleged tax fraud, in Madrid, Spain, 02 April 2025. EPA/JJ GUILLEN

Real Madrid coach Carlo Ancelotti arrived at a Spanish court Wednesday for the opening of his trial on tax evasion charges.
Spanish prosecutors have accused the highly successful Italian coach of defrauding the state of 1 million euros ($1 million) in 2014 and 2015. State prosecutors are seeking a prison sentence of up to four years and nine months on two counts of tax fraud.
They accused Ancelotti in March 2024 of having used shell companies to hide his true earnings. Prosecutors claimed Ancelotti, for example, used one company that lacked “any real (economic) activity” in the Virgin Islands as part of an alleged scheme.
Ancelotti had denied any wrongdoing before the trial.
He arrived to the Madrid-based courthouse dressed in one of his dark blue suits that he wears while coaching games, The Associated Press reported.
When asked by television journalists if he trusted in the justice system, he responded “I do” as he walked up the courthouse steps.
Ancelotti proclaimed his innocence when first accused last year, arguing he was not a fiscal resident of Spain during part of that time. Prosecutors disagree.
“I already paid the fine, the money is with them, and now the lawyers are talking to try to find a solution,” Ancelotti said in March 2024. “Let’s see what the judge says.”
The 65-year-old Ancelotti is one of soccer’s most successful coaches. He has won the Champions League a record five times, three with Madrid and twice with AC Milan, and is the only coach to have won domestic league titles in England, Spain, Italy, Germany and France.
He coached Madrid from 2013-15 before starting his current stint in 2021.