The Saudi Public Investment Fund has taken a big step into tennis by purchasing naming rights to the ATP rankings, the men’s sanctioning body said on Wednesday.
The USD 776 billion sovereign wealth behemoth is the preferred vehicle for Saudi’s growing investment in world sport.
Few actual details were revealed in a glowing ATP media release touting a “new multi-year strategic partnership, marking a significant shared commitment to enhancing global tennis for players, fans, tournament organisers and stakeholders at all levels of the sport.”
Saudi money will also bankroll the under-21 year-end NextGen Finals, to be staged in Jeddah until 2027.
No dollar figures for any part of the Middle East investment initiative were specified.
The Masters 1000 series is also a target of Saudi largesse, with the PIF to “partner” with ATP Tour events in Indian Wells, Miami, Madrid, Beijing and the Nitto ATP Finals.” a release read.
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