Estrella Football Group × Al Shabab Club, Riyadh
Estrella proposes to acquire up to 55% of Al Shabab in a consortium with Saudi entrepreneurs, and to make the club the flagship of a new, connected model of football.
Executive summary
Estrella joins as international operating partner alongside local entrepreneurs and a real estate developer, the structure the Ministry prefers. Saudi partners hold the chair.
Al Shabab keeps its name, identity and Saudi leadership, and gains our playbook, ClubOS and the ve2 technology stack across every department.
Linked to our clubs in Japan and Europe, including a Dutch Eredivisie club and an English club joining soon, for players, coaches and knowledge in both directions.
A deal for every club in the league to use ClubOS. Each club runs its own instance and keeps its own data. Nothing is shared between clubs.
Back to the top within three years, a regular contender in Asia before 2034, and a financially sustainable club built on its heritage, academy and land.
We want Al Shabab to be the first club of the next thing in football.
Why Al Shabab, why now
Al Shabab is the most underpriced heritage asset in Saudi football, and the privatisation window opens before the end of 2026.
The gap. Al Shabab finished 13th of 18 in 2025/26. Operating costs sit above what revenues support, with government subsidy bridging the difference. The club holds an AFC licence, its own investment company and prime real estate in one of the best locations in the Kingdom. That gap between heritage and performance is where Estrella creates value.
"This is the window to get involved. Not after 2034, not right before." Saudi Ministry of Sport, Middle East Sports Investment Forum, 2026
Who we are
Estrella Football Group is a sports, media and technology platform built on Horizontal Multi-Club Ownership (HMCO), backed by ve2 ventures.
Control sits at one elite club. Others become dependent feeders and local identity flattens.
Every club keeps its local leadership and identity, and plugs into the same shared infrastructure. The value sits in the network that connects them.
Anchor club for the Middle East and Asia, connecting our European and Japanese clubs.
Brand, destination and development clubs.
Player development.
Top-flight European platform.
Access to the English market.
Asian talent and know-how corridor, with two more top-flight European platforms.
In 2025/26 CS Cascais won its league as unbeaten champions and its U19s were promoted. Carvoeiro United was also promoted. Our operating model has delivered commercial, cost and brand gains in Portugal and at Dutch club PEC Zwolle.
ve2 ventures builds and owns the tools elite sport runs on, serving 250+ sports organisations including LaLiga, Real Madrid, FC Barcelona, Aston Villa, Concacaf, FIBA and the IOC.
Experience in football, media, operations and digital fan growth, including former professional player Cristiano Piccini as Global Sports Director, Japanese investment expertise through Masaki Kawasaki, and ve2 co-founder and President David Dwinger.
The transaction
Estrella proposes to acquire up to 55% of Al Shabab as the international operating partner in a Saudi-led consortium.
Indicative stakes, to be finalised with the local partners. Up to 55% gives Estrella the accountability to deliver the plan; the Saudi partners hold a substantial, protected position and the chair.
Operating model, HMCO network, ClubOS and ve2 technology, player and coaching pathways.
Local leadership, relationships, commercial reach and community legitimacy.
The operating plan
We run Al Shabab as one integrated system, with sporting and commercial on one data backbone instead of departments working in silos.
Fan and commercial data (ticketing, app, content, merchandise), player and performance data (GPS, match, health, scouting) and club operations (finance, squad value, planning) in one environment.
AI models for performance, injury risk and fan value, benchmarked across the Estrella network.
Real-time dashboards so recruitment, performance and commercial strategy run on the same facts.
| Workstream | What we implement | Tools |
|---|---|---|
| Sporting | Clear playing identity from academy to first team; data-led recruitment; injury and load management; network scouting of 85,000+ matches a year | ClubOS, Scoutmate, Playerlane, Fly-Fut |
| Academy | Saudi talent development as the club's founding mission; exchange placements at Estrella clubs in Europe and Japan | ClubOS player pathway, network coaching |
| Commercial | Restructured sponsorship with valuation uplift; matchday, membership and merchandise growth; year-round events | Fancard, Next Play, Robey |
| Media and fans | Content engine in Arabic, English and Japanese; fan data platform; digital growth beyond Riyadh | Content Stadium, Mediamorph, Fancard |
| Operations | Cost reset and spend discipline; professional governance and reporting; club valuation tracking | ClubOS, Estrella valuation tool |
Operational audit, data infrastructure, key appointments, commercial restructuring, fan platform, academy aligned to first team.
Player trading model, sponsorship growth, integrated media production, performance analytics, professional governance.
Sporting targets, content monetised at scale, cross-club synergies, a sustainable financial model.
The two-way gateway
With Al Shabab in the network, Riyadh connects Estrella's Japanese and European clubs, for players, for coaches and above all for knowledge.
Beyond one club
Alongside the acquisition, we will offer every club in the league a deal to use ClubOS, so all clubs, not only ours, have access to the same elite-grade tools.
Each club runs its own ClubOS and owns its own data. Data can be hosted in the Kingdom, and the league offer is run independently of Al Shabab's ownership, so rival clubs can adopt it with confidence.
| For | What the league-wide ClubOS offer delivers |
|---|---|
| Every club | Elite-grade tools for ticketing, fan engagement, content, scouting, performance and finance, on preferential league terms and at a fraction of the cost of building them alone |
| The league | A competition where all clubs run on modern infrastructure, raising the quality of the product for fans, broadcasters and sponsors |
| The Ministry | Clubs that are better governed, better reported and more ready for privatisation, without any club's data leaving that club |
| Saudi players | Stronger academies and development tracking at every club that adopts ClubOS |
| Investors | Professionally run clubs that are easier to assess, which lowers risk and raises valuations |
The league offer goes live alongside our Al Shabab rollout, with Al Shabab as the live reference club.
Clubs take up the deal on league terms, with Arabic-first interfaces and local support.
The offer extends to First Division clubs and academies.
Ambition and milestones
Our ambition is to return Al Shabab to the top of Saudi football within three years and make it a regular contender in Asia before the 2034 World Cup.
| Horizon | Sporting | Club and commercial | Network and Kingdom |
|---|---|---|---|
| First 100 days | Full sporting audit; playing identity and recruitment model agreed; performance staff aligned | Operational and financial audit; cost reset plan; ClubOS data layer live; key appointments | Al Shabab formally joins the Estrella HMCO; first staff exchanges scheduled |
| Year 1 | Top-half finish; academy aligned to first team | Commercial deals restructured; fan platform and content engine live in Arabic, English and Japanese | First Saudi players and coaches placed at Estrella clubs; league-wide ClubOS offer launched |
| Year 3 | Top-four finish and AFC Champions League qualification; trophies contested | Commercial revenue growing year on year; subsidy dependence reduced; player trading generating value | ClubOS in use at clubs across the Pro League; Riyadh hosts network camps and tournaments |
| Year 5 to 2034 | Saudi champions and a contender for the AFC Champions League Elite | A financially sustainable club; real estate developed into a year-round destination | Al Shabab recognised as the gateway club between Europe, Asia and the Gulf |
Milestones and KPIs will be fixed with the consortium partners and the Ministry once we have reviewed the club's financial position.
Next steps
Estrella confirms its intention to join an Al Shabab consortium as international operating partner, sharing its profile and club portfolio.
The Ministry connects Estrella with the Saudi investors interested in Al Shabab, and a real estate developer to complete the consortium.
An overview of Al Shabab's revenue, costs and debt, to shape an initial view of equity value and the investment plan.
In person with the Ministry, followed by Leaders Week London.
A joint consortium proposal covering structure, investment plan, operating plan and the league-wide ClubOS offer, ready for the tender.
Connected. Data-driven. Global. Built in Riyadh.