Saudi investment fund PIF buys into men's tennis in 'strategic' deal with ATP / Photo: © AFP
RYCEF
0.4000
The China Mail - Saudi investment fund PIF buys into men's tennis in 'strategic' deal with ATP
USD
-
AED 3.672504
AFN 65.000368
ALL 81.431326
AMD 361.239406
ANG 1.789785
AOA 918.000367
ARS 1544.046724
AUD 1.452222
AWG 1.8
AZN 1.70397
BAM 1.754002
BBD 2.018116
BDT 124.801578
BGN 1.747831
BHD 0.378548
BIF 2997.982153
BMD 1
BND 1.283978
BOB 12.019192
BRL 5.504904
BSD 1.002018
BTN 94.051388
BWP 13.802968
BYN 3.000673
BYR 19600
BZD 2.015246
CAD 1.41125
CDF 2320.000362
CHF 0.820469
CLF 0.024951
CLP 981.982871
CNY 6.676504
CNH 6.670804
COP 3236.357114
CRC 454.419084
CUC 1
CUP 24.048249
CVE 98.887942
CZK 21.83445
DJF 178.43146
DKK 6.708504
DOP 60.885162
DZD 136.261154
EGP 53.769786
ERN 15
ETB 164.454778
EUR 0.896804
FJD 2.265604
FKP 0.7479
GBP 0.748083
GEL 2.59504
GGP 0.7479
GHS 11.707995
GIP 0.7479
GMD 74.503851
GNF 8874.938344
GTQ 7.657056
GYD 210.062329
HKD 7.84204
HNL 26.930631
HRK 6.76901
HTG 131.321465
HUF 326.000354
IDR 18108.5
ILS 3.18593
IMP 0.7479
INR 93.910504
IQD 1519.035021
IRR 1891353.000352
ISK 122.790386
JEP 0.7479
JMD 159.024259
JOD 0.70904
JPY 158.47504
KES 130.209408
KGS 87.447804
KHR 4082.328147
KMF 442.00035
KPW 899.999961
KRW 1363.803789
KWD 0.31098
KYD 0.83512
KZT 449.127842
LAK 22542.486884
LBP 89728.711717
LKR 333.213757
LRD 170.342137
LSL 16.570826
LTL 2.95274
LVL 0.60489
LYD 6.412269
MAD 9.794718
MDL 17.910408
MGA 4553.159051
MKD 55.203803
MMK 2099.697346
MNT 3600.739032
MOP 8.088606
MRU 40.453791
MUR 47.030378
MVR 15.403739
MWK 1737.500561
MXN 18.62354
MYR 4.061504
MZN 63.903729
NAD 16.570826
NGN 1347.210377
NIO 36.87727
NOK 9.459904
NPR 150.482041
NZD 1.807175
OMR 0.384144
PAB 1.002108
PEN 3.451773
PGK 4.566611
PHP 63.108038
PKR 277.126855
PLN 3.94555
PYG 6263.39626
QAR 3.662795
RON 4.792204
RSD 105.484059
RUB 81.925564
RWF 1478.947132
SAR 3.756342
SBD 8.048583
SCR 13.773553
SDG 601.503676
SEK 9.894504
SGD 1.282704
SHP 0.748923
SLE 22.950371
SLL 20969.504398
SOS 572.620062
SRD 37.583504
STD 20697.981008
STN 21.972109
SVC 8.76732
SYP 13001.999685
SZL 16.565176
THB 33.550369
TJS 9.243442
TMT 3.5
TND 2.998341
TOP 2.40776
TRY 50.141304
TTD 6.795211
TWD 32.775304
TZS 2647.773642
UAH 45.39348
UGX 4098.470921
UYU 40.312094
UZS 11956.414511
VES 896.316404
VND 25582.5
VUV 119.504303
WST 2.787821
XAF 588.264929
XAG 0.019249
XAU 0.00024594347
XCD 2.70255
XCG 1.805838
XDR 0.707052
XOF 588.264929
XPF 106.954845
YER 236.625037
ZAR 16.51943
ZMK 9001.203584
ZMW 20.360522
ZWL 321.999592
SSP 5745.505339
MXV 2.095222
- South African election results renew debate over identity-based voting
- Post-election pressures complicate US and Israeli decisions on Iran
- South African voters report smoother local election but declining IEC trust
- UN members approve talks on treaty protocol against environmental crime
- Dolly Parton museum and Nashville hotel open after singer’s death
- Family-run West Sussex beach café prepares for first winter season
- George and Amal Clooney attend New York political-comedy reading
- CT scans reveal health and burial clues from Egypt’s Braided Lady mummy
- British buyers pay substantial premiums for period-home appearance
- Oxford faces complaints over lecturer’s classroom attire
Saudi investment fund PIF buys into men's tennis in 'strategic' deal with ATP
Saudi Arabia's Public Investment Fund (PIF) on Wednesday announced a "multi-year strategic partnership" with the ATP, the governing body of men's tennis, extending the kingdom's influence on international sport.
In a joint statement, the two bodies said that the partnership marked "a significant shared commitment to enhancing global tennis".
Since 2021, 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.
The statement did not give details of the amount of the investment which will see PIF become the official naming partner of the ATP rankings.
PIF will also partner with ATP Tour events in Indian Wells, Miami, Madrid, Beijing and the ATP Finals, in addition to the Next Gen ATP Finals, hosted in Jeddah until 2027.
"Our strategic partnership with PIF marks a major moment for tennis," said ATP chief executive Massimo Calvelli in the joint statement.
"It's a shared commitment to propel the future of the sport. With PIF’s dedication to the next generation – fostering innovation and creating opportunities for all – the stage is set for a transformative new period of progress.”
Last year, the kingdom hosted its first ATP Tour event -- the Next Gen ATP Finals in Jeddah -- along with exhibition matches pitting Novak Djokovic against Carlos Alcaraz and Aryna Sabalenka against Ons Jabeur.
In January Rafael Nadal, winner of 22 singles Grand Slams on the men's side, was named ambassador for the Saudi Tennis Federation.
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 Jabeur.
PIF has reshaped the world of golf with the LIV golf tour, a rival to the PGA, and purchased English Premier League club Newcastle United.
It also owns four football clubs in the Saudi Pro League and has spent over $885 million (820 million euros) on some of the biggest names in football to play for its teams.
The kingdom is also set to host the 2034 football World Cup.
But Saudi Arabia has been accused by its critics of "sportswashing" by using sport to improve its international reputation after widespread criticism for its human rights and environmental record.
"Through our collaboration with ATP, PIF will be a catalyst for growth of the global tennis landscape, developing talent, fostering inclusivity and driving sustainable innovation," said PIF's Mohamed AlSayyad.
K.Leung--ThChM
