As the 2025 FIFA Club World Cup approaches, Saudi giants Al Hilal find themselves without a marquee summer signing—despite having been linked to some of Europe’s biggest stars, including Bruno Fernandes, Victor Osimhen, Theo Hernández, and Son Heung-min.

In an exclusive interview with Marca, Al Hilal CEO Steve Calzada opened up about the club’s struggles during an unusually compressed transfer window and explained why, despite widespread rumours, no major European addition was made to bolster their squad ahead of next week’s opening clash against Real Madrid in Miami.

“This was the first time we’ve had to face a transfer window like this,” Calzada admitted. “It was extremely difficult to close deals—starting with finding the right manager, like [Simone] Inzaghi, and then identifying players who could realistically join under our current budget constraints.”

Despite being backed by Saudi Arabia’s Public Investment Fund (PIF), Calzada was quick to dispel the myth that Al Hilal operates with limitless funds.

“People think we just print money,” he said bluntly. “But we don’t. Some of the financial demands we faced were simply outrageous. It reached a point where certain players and their agents assumed we’d pay any amount they asked. That’s not how we work.”

No Reinforcements, But Faith in the Core

While Real Madrid have added Trent Alexander-Arnold, and Manchester City welcomed Tijjani Reijnders and Rayan Cherki, Al Hilal chose stability over star-studded spectacle.

Their most significant summer addition was the appointment of Simone Inzaghi as manager, replacing Jorge Jesus. On the pitch, the squad still boasts high-profile names like Rúben Neves, João Cancelo, Sergej Milinković-Savić, and Aleksandar Mitrović—but expectations were high for one more blockbuster arrival before the Club World Cup.

“Yes, we could have signed players,” Calzada explained. “But we would have had to abandon any notion of sustainability. We lost out on several targets precisely because we refused to play that game. Our wages are already higher than in Europe in many cases—but there are limits.”

Group Stage Awaits in Miami

Al Hilal open their Club World Cup campaign on Wednesday against European champions Real Madrid, before facing Red Bull Salzburg and Mexico’s CF Pachuca in Group H.

Though missing the headline-grabbing names fans hoped for, Calzada insists that the current squad is more than capable of competing on the world stage.

“We have huge faith in our team. Just because we didn’t make a splash this window doesn’t mean we aren’t ready. It’s about building something that lasts—something that’s competitive and financially sound.”

A New Era of Restraint in the Gulf?

Calzada’s remarks may signal a shift in approach—not only for Al Hilal but for Saudi Pro League clubs at large. While the initial wave of high-profile arrivals in 2023 and 2024 turned heads, the focus may now be shifting towards sustainability over spectacle.

Still, with Son Heung-min and Osimhen both previously approached by Saudi clubs—and persistent links to Bruno Fernandes—the appetite for elite talent hasn’t vanished. But as Calzada reminds us: “Even in Saudi Arabia, football is not immune to reality.”