Saudi investment fund PIF announces ‘strategic partnership’ with ATP

February 29, 2024

Saudi Arabia's Public Investment Fund (PIF) has announced a ‘multi-year strategic partnership’ with the ATP, the global governing body of men's professional tennis - marking a significant shared commitment to enhancing global tennis for players, fans, tournament organisers and stakeholders at all levels of the sport.

While the partnership is described as “focussing on enhancing global tennis and its long-term future, elevating youth and unlocking opportunities for tennis' next generation”, it also expands the Kingdom’s portfolio of innovative sponsorships and extends its influence on international sport.

Since 2021, PIF has invested heavily in a number of major sports industries including setting up the LIV golf tour, a rival to the PGA, and purchasing English Premier League club Newcastle United.

The statement did not give details of the amount of the investment which will see PIF become the official naming partner of the ATP rankings.

PIF will also partner with ATP Tour events in Indian Wells, Miami, Madrid, Beijing and the ATP Finals, in addition to the Next Gen ATP Finals, hosted in Jeddah until 2027.

PIF 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.

Last year, the kingdom hosted its first ATP Tour event -- the Next Gen ATP Finals in Jeddah -- along with exhibition matches pitting Novak Djokovic against Carlos Alcaraz and Aryna Sabalenka against Ons Jabeur.

Following the launch of ATP's Baseline program earlier this year, PIF has further committed to develop and unlock new opportunities for young players and player pathway initiatives, providing a significant boost to the game's next generation of stars.

The ATP partnership forms part of PIF's broader sponsorship platform, investing in people, projects and partnerships with an emphasis on the brand's four pillars: inclusivity, sustainability, youth and technology.

Massimo Calvelli, ATP Chief Executive notes "Our strategic partnership with PIF marks a major moment for tennis. It's a shared commitment to propel the future of the sport. With PIF's dedication to the next generation – fostering innovation and creating opportunities for all – the stage is set for a transformative new period of progress."

Mohamed AlSayyad, Head of Corporate Brand at PIF adds "As PIF expands its portfolio of innovative sponsorships, our commitment to 'Invested in Better' remains unwavering. Through our collaboration with ATP, PIF will be a catalyst for growth of the global tennis landscape, developing talent, fostering inclusivity and driving sustainable innovation. This strategic partnership aligns with our broader vision to enhance quality of life and drive transformation in sport both within Saudi and across the world.''

Tennis is rapidly becoming a key sport in Saudi Arabia. Between 2019 and 2023, the number of registered players increased by 46%. PIF will leverage ATP's expertise to develop further opportunities for young Saudis in tennis, including via state-of-the-art facilities, coaching, and an enhanced player pathway in Saudi Arabia.

Saudi Arabia's Public Investment Fund (PIF) is one of the largest and most impactful sovereign wealth funds in the world.

More information on the ATP

Image. Massimo Calvelli, ATP CEO & Kevin Foster, Head of Corporate Affairs, PIF.

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