Hamad Medjedovic of Serbia plays a backhand to Arthur Fils of France in the final during day five of the ATP Next Gen Finals at King Abdullah Sports City in Jeddah, Saudi Arabia, on December 2, 2023.
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Saudi Arabia's Public Investment Fund will become the official partner of the ATP Rankings and will partner with ATP Tour tennis events including Indian Wells and Miami, Madrid and Beijing, as well as the Nitto ATP Finals under multi-year partnership announced on Wednesday.
“Our strategic partnership with PIF marks an important moment for tennis. It is a shared commitment to drive the future of the sport,” ATP CEO Massimo Calvelli said in a press release.
An ATP spokesperson declined to disclose the financial terms of the deal.
PIF, with assets estimated at around $700 billion, has invested in multiple sports, as well as music and entertainment projects.
A deal to merge the PGA Tour and the Saudi-backed LIV tour is still being negotiated, and there is no deadline for talks to be finalized. The PIF launched the LIV tour in 2022, attracting top PGA Tour stars, including Phil Mickelson, Dustin Johnson and Brooks Koepka, with hundreds of millions in signing bonuses.
Critics of the Saudi fund's sports investments have claimed it is a way for the country and Crown Prince Mohammed bin Salman to gain influence in the United States. The crown prince controls the PIF.
“PIF will be a catalyst for the growth of the global tennis landscape, developing talent, fostering inclusion and driving sustainable innovation,” Mohamed AlSayyad, PIF corporate brand director, said in a press release.
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