Real Madrid star Vinicius Jr has fielded and rejected an offer from the Saudi Pro League.
The Public Investment Fund controls four clubs in Saudi Arabia: Al Nassr, Al-Hilal, Al-Ittihad and Al Ahli.
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The Athletic says the PIF, which works for the country's sports ministry, has tried to recruit Vinícius Júnior to the Saudi Pro League.
The PIF has been in contact with the Brazilian star's representatives in the hope of making him the country's big poster name ahead of the 2034 World Cup.
However, Real Madrid do not want to sell the attacker, who has a buyout clause of €1bn.
Vinícius Júnior, who has a contract until 2027, is also happy at Real Madrid and has informed Saudi chiefs that he has no intention of leaving.