Saudi Arabia Ramps Up On Sports Sponsorships 

Despite widescale accusations of sportswashing in the media, Saudi Arabia continues stamping its mark in the global sports sponsorship market as an attempt to boost its soft power. 

Under its latest move, state owned oil giant Aramco has become the sponsor of Dubai-based International Cricket Council’s (ICC) events until the end of 2023, including men’s and women’s T20 World Cups and next year’s one-day World Cup in India.

Following the deal, Aramco global public affairs General Manager, Talal al-Marri, said, “This represents a significant addition to our network of global partnerships and we are pleased to join forces with the ICC.” The partnership also sees the oil company reach over a billion cricket fans across the globe, however, there has been no talk about nurturing cricket domestically.*

The oil giant already has commercial deals with the Indian Premier League, Formula One, and women’s golf. With Aramco registering record profits this year as oil prices rocketed following Russia’s invasion of Ukraine, it is likely to make further moves in the global sports sponsorship market despite the general outcry and scepticism from vociferous media, eco-conscious athletes and fans alike. 

Besides Aramco, the Saudi Public Investment Fund (PIF) has already invested over US$2.3b in both local and European football, including a majority stake in EPL club Newcastle United.  

It is also backing LIV a professional golf tour to rival the more established PGA and has already attracted top golfers such as Dustin Johnson, Cameron Smith and Phil Mickelson. In addition to golf and football, it has also invested in Formula 1 and heavyweight boxing. 

In recent years, Saudi Arabia has also opened itself up to major international sporting events, including boxing, wrestling and Formula 1 motor racing. It will be hosting the 2029 Asian Winter Games in Trojena and the 2034 Asian Games in Riyadh. It is also eyeing to host a FIFA World Cup and Olympics, as it tries to diversify its heavy economic reliance on oil export. 

According to ASN data, Aramco is one of the fastest growing sponsors for its category since Q122, pumping in almost US$22m with 6.1% market share, making it the 3^rd largest player for the petrochemical category.  

*Saudi Arabia was only formally registered as an associate member of the Asian Cricket Council (ACC) and affiliate member of the ICC in 2003. There are about 7200 registered players and over 9000 junior cricketers nationwide.