Skip to content Skip to Search
Skip navigation

Saudi wealth fund becomes sponsor for ATP Tour  

Crowd, Person, Adult ATP chief executive officer Massimo Calvelli and PIF head of corporate affairs Kevin Foster sign the sponsorship agreement ATP Tour
ATP chief executive officer Massimo Calvelli and PIF head of corporate affairs Kevin Foster sign the sponsorship agreement

Saudi Arabia’s sovereign wealth fund has become the official naming partner of the ATP rankings, part of its wider sponsorship of men’s tennis governing body.

The Public Investment Fund will partner with ATP Tour events in Indian Wells, Miami, Madrid, Beijing and the Nitto ATP Finals, in addition to the Next Gen ATP Finals, hosted in Jeddah until 2027.

The financial details of the deal were not given.

Tennis is rapidly becoming a key sport in Saudi Arabia. Between 2019 and 2023, registered players increased by 46 percent.

PIF will use ATP’s expertise to develop further tennis opportunities for young Saudis.

PIF has established SRJ Sports Investments to drive the growth of the sports sector in the Mena region.

The company acquired a minority stake in the Professional Fighters League, a mixed martial arts organisation, reportedly valued at $100 million last August.

The kingdom’s sports and tourism ministries have set an ambitious target for sports to contribute 0.6 percent of GDP by 2030, up from the current 0.2 percent.

The wealth fund launched the LIV Golf circuit in 2022, competing with the established PGA Tour. The two tours ended a lengthy legal battle in June 2023 by deciding to merge their commercial interests.

Saudi Arabia has also secured a five-year deal to host the Next Gen ATP Finals in Jeddah, the end-of-season tennis tournament for the best under-21 men.

Latest articles

EGSH

Dubai launches one-stop hub to streamline government services

People in Dubai can now obtain an Emirates ID, register a company, open a bank account and more under one roof following the opening of the Emirates Government Services Hub (EGSH). Owned by Sheikh Mohammed Bin Maktoum Bin Juma Al Maktoum, a member of the Dubai Royal family, EGSH allows clients to access all essential […]

In association with
Thailand's consul general Kitinai Nutakul visits the Saudi Ministry of Foreign Affairs in Jeddah

Thailand opens investment office in Saudi Arabia

Thailand’s Board of Investment (BOI) is opening its first Middle East office in Saudi Arabia, signaling a deepening of economic ties between the nations after a longstanding diplomatic spat. The office will focus on attracting Saudi investment into Thailand’s targeted industries and supporting Thai entrepreneurs looking to invest in the region, the BOI said in […]

hajj saudi arabia

Saudia reports big rise in international passengers

Saudi Arabia’s national carrier Saudia reported a 24 percent increase in international passengers to 9.1 million in the first half of 2024. There was also a 13 percent rise in the number of flights. The Hajj pilgrimage in June played a large part in the growth.  The number of passengers flying on domestic routes rose […]

renewables target dam

World is off track to meet Cop28 renewables goal

The world is far from reaching its 2030 renewables target, the International Renewable Energy Agency (Irena) said on Thursday. Countries committed at the Cop28 summit in Dubai last year to treble renewables capacity in order to limit global warming to 1.5C. To stay on course global capacity growth needs to accelerate to a minimum rate […]