Over the past few years, Saudi Arabia’s Public Investment Fund (PIF) has entered the world of professional tennis and has signed a new multi-year deal with the WTA. PIF will also now become the first-ever naming partner of the WTA Rankings in a similar fashion to a deal signed with the men’s tour (ATP) back in February.
The new collaboration with WTA and PIF stems from the announcement made in April that the next three season-ending WTA Finals to be held in Riyadh with a record prize money of $15.25 million. This is revealed after three-time Grand Slam finalist Ons Jabeur became the latest tennis star to sign for the $1.5BN Saudi Arabia fitness and wellness brand owned by the PIF in January and is eager to aid in the development of the sport in the country. The ATP Tour has shifted its Next Gen Finals for the top emerging talent players of 21 years and below to Jeddah in November, while the 22-time Grand Slam champion, Rafael Nadal, has been announced as an ambassador for the Saudi Tennis Federation. Nadal will be part of an exhibition event in Riyadh together with world number one Novak Djokovic and young guns Carlos Alcaraz and Jannik Sinner in October.
“We are pleased to announce that PIF is now a Global Partner of WTA and the first-ever WTA Ranking Title Partner.” “Individually, we are eager to document our gifted athletes throughout the season as we progress in developing the game so as to encourage fan base for tennis amongst young people.”
Mohamed Al Sayyad, head of corporate brand at PIF, said in the same release: “This partnership will enshrine PIF as the key enabler for the advancement of women’s sport as we move forward with WTA. We are eagerly awaiting to have partnership with WTA and exert every effort in order to encourage more talents to come forward. Based on the four strategic sponsorship themes of PIF, this partnership can be considered as supporting our vision to enhance the standards of the game as well as providing solutions to foster sustainable development of soccer across the globe.”
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The disclosure confirms the kingdom’s growing interest in the sports industry moving to the next stage after football, tennis, golf, and boxing. Saudi Arabia is to become a host of WTA Finals over the next three future years.
