Saudi Arabia’s Public Investment Fund (PIF) has followed up on its WTA Tour finals hosting deal with a sponsorship arrangement with the women’s tennis governing body.
The Saudi sovereign wealth fund has become the first-ever naming partner of the WTA Rankings under the terms of a new multi-year deal. As a global partner of the WTA, PIF also plans to work on expanding initiatives and developing opportunities for young players.
This arrangement is indicative of PIF’s efforts in a range of areas, firstly with regards to sponsorship. PIF’s approach to sponsorship has included investments, such as a reported interest in a cash injection in English Premiership Rugby, whilst it has also partnered with the likes of Chelsea FC via its Riyadh Air holding.
Marina Storti, CEO of WTA Ventures, said: “We are delighted to welcome PIF as a global partner of the WTA and our first-ever official naming partner of the WTA Rankings.
“Together, we look forward to sharing the journey of our talented players across the season, as we continue to grow the sport, creating more fans of tennis and inspiring more young people to take up the game.”
More specifically, the deal marks a continuation of PIF’s focus on tennis. As noted above, the fund has already been working with the WTA, with Riyadh having been named the host city of the WTA Finals until 2026 in a deal earlier this year. Storti would share some insights into this arrangement with Insider Sport shortly after the announcement.
As well as working with women’s tennis, PIF has also been active in the men’s game. In February this year, the fund partnered with the ATP to become a partner of the organisation’s rankings.
The replication of this deal with the WTA makes PIF a global partner of the two leading authorities in global professional tennis, in both the men’s and women’s game. This all falls in line with Saudi Arabia’s sporting ambitions, which have accelerated significantly over recent years.
Outside of tennis, the country’s football league has attracted notable international talent, with golf becoming a significant area of interest via the creation of LIV Golf, and the capital of Riyadh set to host a UFC
The Saudi capital has also become a leading destination for some of the most high-profile boxing events over recent times, such as last weekend’s undisputed heavyweight clash between Tyson Fury and Oleksandr Usyk.
Mohamed AlSayyad, Head of Corporate Brand at PIF, remarked: “Through our partnership with WTA, PIF will continue to be a catalyst for the growth of women’s sport. We look forward to working with the WTA to increase participation and inspire the next generation of talent.
“Underpinned by PIF’s four strategic sponsorship pillars, this partnership aligns with our ambition to elevate the game and bring positive growth to the sport around the world.”
