Saudi Arabia's Move into Tennis and Football

In February 2024, Saudi Arabia's Public Investment Fund signed a multi-year partnership with the ATP, becoming the naming partner of the men's world rankings. In May 2024 it agreed a similar deal with the WTA, becoming the first ever naming partner of the women's rankings, shortly after Riyadh was chosen to host the season-ending WTA Finals from 2024 to 2026 with record prize money of $15.25 million.

The deals also include sponsorship at major tournaments such as Indian Wells, Miami, Madrid and Beijing, and follow Saudi Arabia hosting the Next Gen ATP Finals in Jeddah from 2023 until 2027. Rafael Nadal became an ambassador for the Saudi Tennis Federation in January 2024. The move divided the sport, with Chris Evert and Martina Navratilova urging the WTA to stay out of Saudi Arabia over human rights concerns, while Billie Jean King argued for engagement.

Tennis follows a pattern set in football. In 2021, the Public Investment Fund led the takeover of Newcastle United, which the Premier League approved after receiving legally binding assurances that the Saudi state would not control the club. Saudi clubs then signed major stars, including Cristiano Ronaldo, and Saudi Arabia was confirmed as host of the 2034 World Cup.

The key difference is between sponsorship and ownership. In tennis, the Public Investment Fund is a commercial partner and does not own the tours. In football, it owns a club, which brings it within ownership rules. Leagues are approaching this differently. The NFL does not allow sovereign wealth funds to invest in teams directly, while English football will now apply the Independent Football Regulator's statutory owners test, which looks closely at the source of an owner's money.

Saudi Arabia's investment in sport is part of a wider national strategy. For regulators, the key question is where sponsorship ends and control begins.