Cristiano Ronaldo surprise: Al-Nassr in talks with AC Milan

15 Sept 2026 17:32 BST | 5 min read

Cristiano Ronaldo, Al-Nassr, AC Milan — © IMAGO

Tom Weber | Writer

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AC Milan are in surprising discussions with Al-Nassr over a deal that could have huge ramifications for Cristiano Ronaldo and company.

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The Serie A giants cleaned house this summer after a late-season collapse saw them miss out on Champions League qualification. The entire sporting leadership was sacked, leaving behind a massive power vacuum.

Rather than replace the dismissed directors, owner Gerry Cardinale took on a more hands-on role with the club, playing a hugely important part in recruiting players for head coach Ruben Amorim's new project.

Current ETV

Cristiano Ronaldo

F (C)

Al-Nassr

Cristiano Ronaldo

F (C)

Al-Nassr

ETV Range

€5.8M - €7.8M

However, Cardinale seemingly isn't content with just running Milan. He is the chief investment officer of RedBird Capital Partners, which also owns Ligue 1 outfit Toulouse and acquired a minority stake in Liverpool in 2021.

According to Gianluigi Longari, Cardinale wants to add more clubs to his budding football empire, and his interest has now been piqued by the Saudi Pro League and, specifically, Ronaldo's Al-Nassr.

Saudi opening up to outside investment

Longari claims that Cardinale has held preliminary discussions with Al-Nassr over a potential investment that would see the Riyadh giants join RedBird's multi-club network. However, these talks are described as difficult and "far from a conclusion."

Al-Nassr isn't the only "opportunity" Cardinale is exploring, but it could be among the most high-profile ones, considering that building multi-club networks is more difficult in Europe due to UEFA rules preventing teams with the same owner from featuring in the same competition.

Cardinale knows this better than anyone. In 2023, Toulouse had to be placed in a blind trust to ensure that they could compete in the Europa League alongside Milan. Ironically, the French side were drawn in the same group as Liverpool that season.

This led to suggestions that RedBird could look to sell their stake in Toulouse, but this hasn't materialised. On the contrary, Cardinale and his associates have become more bullish about expanding their global sporting footprint.

An investment in a Saudi club would not come as a major shock. In order to become more sustainable, Pro League sides are being actively encouraged to seek private backing.

Moreover, Saudi Arabia is the current flavour of the month in the sports-finance world. The country and the region at large are seen as an emerging sports market with huge potential.

Last year, American businessman Ben Harburg, who grew up in Spain and has invested in his local club Cadiz, made Al-Kholood the first fully foreign-owned Saudi team.

Speaking in a German Sportschau documentary earlier this year, he said: "Saudi Arabia, in my opinion, is trying to be the centre of the sports world and on pace to achieve that.

© IMAGO - Al-Hilal signed Karim Benzema with private funding in February

"We have entered an era in which there are, in my opinion, three poles in the world: the US, China and the Middle East, especially the Gulf States. A lot of countries in the world are in the background, be it because of economic stagnation or geopolitical conflicts.

"In my opinion, particularly Saudi Arabia and, to some degree, the UAE have become the new Switzerland. It’s a place where Chinese, Russians, Americans, people from Africa and South America meet. I feel like we are in the centre of the world and the centre of the sports world."

In August, Kingdom Holding Company acquired a 70% majority stake in Al-Hilal from the Public Investment Fund, which previously owned the Pro League's "big four." In February, the Riyadh side were able to sign Karim Benzema - who has already left again - thanks to private funding.

Al-Nassr, Al-Ittihad and Al-Ahli are still owned by the PIF, but there is a firm expectation that this won't be the case for much longer. It remains to be seen if RedBird can strike a deal for Al-Nassr, but private investment is the way forward for the Saudi Pro League.