The $305m debt hanging over Ange at Ronaldo’s club
Ange Postecoglou is back managing a top-flight football team, but he may have unknowingly walked into a club that is battling a significant financial crisis.
A report published by Saudi Arabian media Al-Riyadiah this week revealed Al Nassr, Postecoglou’s new home, has deep financial troubles, with the club carrying roughly $305m AUD in debt.
Ange Postecoglou is pictured during an Al Nassr training session Instagram/@alnassr
The crisis, as per the report, is a direct result of the financial decisions made by the Saudi Pro League champions last season. Cristiano Ronaldo is the highest-paid player in the world and is the face of Al Nassr.
The Public Investment Fund, the 75 per cent owner of the club, is working to formulate a plan to ensure Al Nassr gets back on the right track. Al Nassr’s non-profit foundation holds the other 25 per cent share.
The three key areas that the PIF have looked into is the financial powers of executive management, the commercial revenue of the team and the potential partial sale of the club.
As it stands, management powers have been restricted and independent financial and legal firms have been contacted to help increase commercial revenue.
The financial restriction has already had a significant impact on the team, with Postecoglou and his staff hamstrung from investing in the transfer window. The club will not be able to register new players until their finances are fixed.
While it is not ideal for a team to have little room to recruit in the transfer window, the Australian does have a fairly impressive line-up to work with.
Superstars Ronaldo, Joao Felix and Sadio Mane are signed to Al Nassr, along with Croatia’s Marcelo Brozović, Kingsley Coman of France and Inigo Martinez of Spain.
With a glittering roster featuring one of the greatest players of all-time, interest in purchasing the team is likely to be appealing.
As per Saudi media reports, two offers have been tabled to buy Al Nassr, but the PIF are leaning more in favour of selling part of the club, not their entire stake.
Postecoglou led the team for his first official game as head coach last week, although it ended in a 2-1 loss to Portuguese heavyweights Benfica.
That match came nine months after he was informed his tenure at Nottingham Forest would be coming to an end after 39 days in charge.
Postecoglou has won 14 trophies in his managerial career. Instagram/@alnassr
The 60-year-old’s brutal dismissal from Forest came less than three months after he was sacked from Tottenham Hotspur, despite leading the team to a European trophy.
Even coming off a failed tenure, Postecoglou is sticking with his football philosophy, telling players in his first team address that all he asks for is respect.
Postecoglou’s first game of the Saudi Pro League season will take place on August 16 AEST against Al Fateh SC.
