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Saudi Arabia’s Public Investment Fund (PIF) Backs ATP In Latest Deal
Another week, another deal seems to be the mantra for Saudi Arabia’s Public Investment Fund (PIF) as the sovereign wealth fund secured a deal with the ATP, the organiser of the top men’s tennis tour.
The agreement sees PIF become the title sponsor of several ATP Tour events, most notably its season-ending ATP Finals and the youth category Next Gen ATP Finals, which will be staged in the Saudi city of Jeddah until 2027.
Alongside the finals, PIF is poised to back a slew of major ATP Masters 1000 events including the Indian Wells Open, Miami Open, and Madrid Open, as well as the ATP 500 China Open in Beijing.
PIF’s latest ATP sponsorship play could potentially see the sovereign wealth fund to invest in the men’s tennis body itself.
According to ASN data, tennis (6.6%, ~US$920.6m) is the 6th highest backed sport in the Asian sponsorship market since Q221, and quarterly investment has been rather consistent during this period, averaging almost US$81.6m. The bulk of these deals have taken place in China (79.1%) and Japan (14.2%).
