Saudi Arabia’s Public Investment Fund has distanced itself from reports that it has made a $2 billion “take-it-or-leave-it” offer to unite tennis’s ATP and WTA Tours, insisting it has no intention of disrupting the sport.
The latest investment with the ATP follows a Saudi bid to secure the WTA Finals in Riyadh, a move that drew criticism from former women’s champions Chris Evert and Martina Navratilova while winning the support of current world No.6 Ons Jabeur.
According to the Saudi government, the investments are merely part of its Vision 2030 development plan, with which Crown Prince Mohammed Bin Salman is aiming to modernise his country and make it less dependent on oil revenues.
Saudi Arabia’s Public Investment Fund and the men’s professional tennis tour have agreed to a five-year partnership, which includes naming rights for the ATP rankings – the latest move by the kingdom into that sport and others.
The ATP already has a deal that places its Next Gen ATP Finals — a tournament for players 21 and under — in Jeddah from 2023 through 2027.
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The Kingdom’s appetite to get involved in the development of tennis was shown by court-side branding for the PIF at the season-ending ATP Finals and tournaments in Indian Wells in March 2024, California; Miami and Madrid from April 22 -May 05, 2024.
Slowly but surely, the way forward in professional tennis is making itself clear.
The latest evidence was the announcement made that a top-level, six-player men’s exhibition event will take place in Riyadh, Saudi Arabia, this October.
H. E. Advisor Turki Alalshikh, Chairman of the Board of Directors of the General Entertainment Authority (GEA) made this clear through his X account,”Get ready for the ultimate clash of titans ❤????????”.
This October 2024, Riyadh Season will be hosting the “6 Kings Slam” – a spectacular championship where six global tennis titans go head-to-head”.
Major winners Carlos Alcaraz, Daniil Medvedev and Jannik Sinner will also form part of the exhibition, as well as Holger Rune.
Spaniard Rafael Nadal, who signed up as an ambassador for the Saudi Arabian Tennis Federation in the new year, says he is looking forward to the event.
“After some other tennis players have done so, I am very excited to play for the first time in Riyadh,” the 22-time Grand Slam champion said.
Since 2021, the PIF has invested heavily in a number of major sports industries including setting up the LIV golf tour, a rival to the PGA, and purchasing English Premier League club Newcastle United.
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