Saudi Arabia’s sovereign wealth fund grew to become an “official match supporter” of the FIFA World Cup on Friday and reaffirmed its dedication to take a position closely in sports activities regardless of notable retreats from different ventures in latest months.
In saying the partnership, the dominion’s public funding fund (PIF) mentioned sport was a “precedence sector” and soccer was essential to the “ongoing transformation of Saudi Arabia”.
PIF introduced this month that it was pulling the plug on future funding for LIV Golf, the breakaway tour that it has poured billions of {dollars} into, elevating questions on its long-term plans for different sports activities after its huge spending in recent times.
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Whereas the worth of the World Cup deal, which covers North America and Asia, was not disclosed, it additional strengthens ties between Saudi Arabia and world soccer’s governing physique FIFA.
The oil-rich kingdom has gained the rights to host the 2034 version of the World Cup and PIF was a business companion for final 12 months’s Membership World Cup.
US President Donald Trump, left, and Gianni Infantino, president of FIFA. Bloomberg
The PIF-owned SURJ Sports activities Funding additionally owns a stake in on-line streamer DAZN, which broadcast the Membership World Cup and not too long ago acquired Kayo Sports activities in Australia.
In line with FIFA accounts, tv broadcasting rights had contributed “the lion’s share” of its annual income in 2025, price greater than $1.3 billion.
Soccer has been a significant focus for Saudi Arabia because it appears to be like to maneuver away from its heavy reliance on oil and discover different revenue-generating sectors.
That has included attractive a number of the sport’s largest stars like Cristiano Ronaldo, Neymar and Karim Benzema to its home league and shopping for Premier League membership Newcastle. Profitable the fitting to host the World Cup is its standout achievement thus far.
Funding in different sports activities contains internet hosting various world championship boxing matches, System One racing and tennis.
Akram Afif of Qatar interaqcts with Tamim bin Hamad Al Thani, Emir of Qatar after the AFC Asian Cup last. Getty
Critics have accused the dominion of “sportswashing” — utilizing sports activities to rebrand its public picture within the face of its human rights file and the killing of Washington Submit columnist Jamal Khashoggi in 2018.
The launch of the contentious LIV Golf tour in 2022 was a significant disruptor for the game, luring prime gamers like Bryson DeChambeau, Phil Mickelson, Brooks Koepka and Dustin Johnson away from the PGA. LIV Golf’s spending is predicted to exceed $8.3 billion by the top of the 12 months.
Whereas there was a slowdown of prime soccer gamers heading to the Saudi league after its earlier aggressive recruitment drive, PIF outlined its ongoing dedication to the world’s hottest sport.
“PIF continues to develop its international footprint in sport, with soccer on the coronary heart of this development,” head of company model Mohamed AlSayyad mentioned.
