Business of Sport Saudi Arabia adds soccer in North America to sports portfolio By Gavin Gibbon August 16, 2024, 9:34 AM Bob Daemmrich/Alamy via Reuters USA fans cheer during a Concacaf Nations League match. The country will co-host the 2026 Fifa World Cup with two other Concacaf members, Canada and Mexico America hosts World Cup 2026 Youth access to football a priority PIF seeks ‘positive and lasting’ impact Saudi Arabia has added the Confederation of North, Central America and Caribbean Association Football (Concacaf) to its squad of sporting investments. The kingdom’s sovereign wealth fund has partnered with the regional governing body for soccer “to support the growth of the sport at all levels”. The Public Investment Fund will sponsor football development initiatives, with a particular focus on youth access to the sport in all 41 Concacaf federations, it said in a statement. NewsletterGet the Best of AGBI delivered straight to your inbox every week “Together, we will advance a series of initiatives to create a positive and lasting impact across all Concacaf competitions,” said Mohammed AlSayyad, head of corporate brand at PIF. The value of the deal was not disclosed. Saudi Aramco was the lead sponsor of the Concacaf Under-20 men’s championship, which was won earlier this month by Mexico. Saudi Arabia has made giant strides in the sporting world as part of Crown Prince Mohammed bin Salman’s ambitious Vision 2030 programme to wean the kingdom off a dependence on hydrocarbons. Huge investments have been made across a wide spectrum including football, boxing, tennis, golf, wrestling and Formula 1, with further interest in rugby, cricket and darts. Investor bids invited for six Saudi football teams Riyadh to get a new 45,000-seat stadium Football continues to attract tourists to Qatar Saudi Arabia is due to hold the football Asian Cup in 2027 and the 2029 Asian Winter Games and is the sole bidder to host the 2034 Fifa World Cup, which will be confirmed by football’s governing body in December. Speculation also surrounds a potential Saudi bid for the 2036 Olympic Games. The Concacaf region’s major football tournaments in the coming years include the men’s and women’s Concacaf Champions Cups, the 2025 Concacaf Gold Cup and the next Fifa World Cup in 2026, which will be jointly hosted by three member federations, Canada, Mexico and the United States. Victor Montagliani, the president of Concacaf, and a Fifa vice president, said: “This is a pivotal time for PIF to connect with football in Concacaf.”
