ATP Tour and Saudi Arabia’s Public Investment Fund sign five-year deal | Tennis News
The ATP Tour and Saudi Arabia’s Public Investment Fund (PIF) have signed a five-year strategic partnership, the governing body of men’s tennis said on Wednesday.
PIF will now become the official naming partner of the men’s rankings as well as partner ATP tournaments in Indian Wells, Miami, Madrid, Beijing, the season-ending ATP Finals in Turin and the Next Gen ATP Finals staged in Jeddah.
Saudi Arabia has invested heavily in various sports like football, Formula 1, boxing and golf in the last few years.
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“Our strategic partnership with PIF marks a major moment for tennis,” ATP chief executive Massimo Calvelli said in a statement.
“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.”
In August, the ATP announced its Next Gen Finals for men’s U21 players would take place in Jeddah until 2027, with the prize money increased to a record $2m.
Saudi Arabia will also host a new elite tennis exhibition tournament featuring Novak Djokovic, Rafa Nadal and three other Grand Slam champions in October. Nadal was named an ambassador for the Saudi Tennis Federation last month.
The WTA women’s tennis tour has also been in negotiations to partner with Saudi Arabia, including possibly placing its season-ending WTA Finals there.
“As part of our plans to grow the value of women’s tennis, we regularly speak to both existing and potential commercial partners about possible new forms of collaboration,” a WTA spokesperson said on Wednesday. “While we don’t rule anything out for the future, there is no new update at this time.”
However, Chris Evert and Martina Navratilova are among those who have urged the WTA to stay out of Saudi Arabia, amid concerns over the rights of women and LGBTQ+ people in the country, and accusations of sportswashing.
