Cristiano Ronaldo’s Al-Nassr has found itself in an unexpected position in the latest financial snapshot of the Saudi Pro League, with the club falling sharply in the global rankings for squad acquisition costs. At the same time, Al-Hilal has emerged as the clear financial leader among Saudi clubs, creating an intriguing backdrop to another increasingly competitive league campaign.
The numbers come from the latest CIES Football Observatory Weekly Post 552, published on September 9, 2026. Rather than measuring current player values, the report looks at the cumulative transfer fees and add-ons paid to assemble each club’s current first-team squad, offering a different way of examining the balance of power in Saudi soccer.
Al-Hilal sits comfortably at the top of the Saudi rankings, followed by Al-Ahli, Al-Qadsiah, Al-Ittihad and Al-Nassr. The order highlights how heavily several clubs have invested in their current squads, while Al-Nassr’s position represents a significant change compared with the previous year.
According to the CIES Football Observatory, the Saudi top five have collectively invested around €1.606 billion in transfer fees and add-ons for players currently on their books. Al-Hilal alone accounts for roughly one-third of that total.
Cristiano Ronaldo of Al Nassr lifts the Saudi Pro League Trophy
The rankings are Al-Hilal at €535 million, Al-Ahli at €329 million, Al-Qadsiah at €257 million, Al-Ittihad at €251 million, and Al-Nassr at €234 million. Al-Qadsiah has made the biggest climb, rising 20 places globally, while Al-Nassr has suffered the largest fall among the five, dropping 11 places.
The spending gap finally revealed
That is where the scale of Al-Hilal’s advantage becomes particularly striking. Al-Hilal has spent €535 million assembling its current squad, compared with €234 million for Al-Nassr, a difference of €301 million, meaning Al-Nassr’s total is less than half of its Riyadh rival’s.
In Saudi currency, CIES puts Al-Hilal’s squad acquisition cost at approximately 2.34 billion Saudi riyals, while Al-Nassr stands at around 1.02 billion riyals. Al-Ahli follows at 1.44 billion riyals, with Al-Qadsiah at 1.12 billion and Al-Ittihad at 1.10 billion.
| Rank | Saudi Club | Squad Value | Change in Global Ranking |
|---|---|---|---|
| 1. | Al-Hilal | €535m | ⬆️ 2 places |
| 2. | Al-Ahli | €329m | ⬇️ 3 places |
| 3. | Al-Qadsiah | €257m | ⬆️ 20 places |
| 4. | Al-Ittihad | €251m | ⬇️ 9 places |
| 5. | Al-Nassr | €234m | ⬇️ 11 places |
The figures are especially interesting because Al-Nassr remains the defending Saudi Pro League champion and continues to have some of the biggest names in the competition, including Ronaldo, Sadio Mane, Joao Felix and Kingsley Coman. Its current squad is therefore still capable of competing at the highest level despite the much lower cumulative acquisition cost.
Why the CIES figures need context
There is an important distinction behind the numbers. CIES is measuring what clubs paid to acquire the players currently in their squads, including add-ons regardless of whether those bonuses have actually been paid, rather than calculating what those players are worth today.
Cristiano Ronaldo of Al Nassr.
That means the figures should not be confused with Transfermarkt’s estimated market values. Around the time of the report, Al-Hilal’s squad was valued at roughly €240 million, while Al-Nassr’s was around €137 million, illustrating the difference between historical acquisition costs and current estimated values.
Wages are also excluded from the CIES calculation. That matters considerably in the Saudi Pro League, where salaries and other financial commitments can represent a substantial part of the overall cost of assembling a squad.
