Saudi Arabia's influence in the world of global professional sports continues to grow.
The Saudi sovereign wealth fund (PIF) announced this Wednesday a “multi-year strategic partnership” agreement with the ATP men’s tennis circuit.
This partnership marks “a significant joint commitment to improve world tennis”, the two parties indicated in a joint press release, without revealing the amount of the agreement.
ATP and Public Investment Fund (@PIF_en) today unveiled a new multi-year strategic partnership, marking a significant shared commitment to enhancing global tennis for players, fans, tournament organizers and stakeholders at all levels of the sport.
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— ATP Tour (@atptour) February 28, 2024
Since 2021, the PIF has invested massively in several major sports, such as football, with the purchase of the English Premier League club Newcastle United, or golf, by creating the LIV circuit, rival of the North American PGA circuit (negotiations for a merger are in progress).
The rich Saudi fund will become “the official partner of the ATP Rankings”, which will now be officially called the PIF ATP Rankings, and will be associated “with the ATP tournaments of Indian Wells, Miami, Madrid, Beijing and the end-of-year Masters. year, in addition to the Next Gen Masters, organized in Jeddah until 2027,” specified the PIF and the ATP.
“Our strategic partnership with the PIF marks a major moment for tennis.
This is a shared commitment to propel the future of this sport,” said Massimo Calvelli, CEO of the ATP, quoted in the press release.
Last year, the kingdom hosted its first ATP Tour event with the Next Gen Finals.
Exhibition matches pitting Novak Djokovic against Carlos Alcaraz and Aryna Sabalenka against Ons Jabeur were also organized.
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Saudi Arabia also appointed Rafael Nadal as ambassador of the Saudi Tennis Federation in early January.
But while Saudi Arabia was being considered to host the WTA Women's Masters, legends Chris Evert and Martina Navratilova called on women's tennis bosses last month to abandon the project, pointing to the oil monarchy's record in terms of human rights.
The country, which hosts a Formula 1 Grand Prix, Moto GP and the Dakar rally-raid, has recruited football stars for its high-priced football championship in recent months, such as Cristiano Ronaldo in 2023, followed by Karim Benzema or even Seko Fofana.
It aims to organize several major events in the years to come, including the Football World Cup in 2034.