Saudi Arabia/PIF: SRJ Sports Investments launched to grow sport in the Middle East & North Africa

Saudi Arabia's Public Investment Fund (PIF) has established SRJ Sports Investments, a sports investment company that aims to accelerate the growth of the sports sector in Saudi Arabia and the MENA region, on 06/08/2023.

"SRJ Sports Investments will invest in acquiring and creating new sports events IP, commercial rights of popular and prominent sports competitions and hosting major global events in Saudi Arabia. These investments are expected to deliver financial returns and localize partnerships domestically and in the MENA region," explained the PIF.

"The new company will target businesses specialised in offering unique fan engagement activities and transformative sports technology across the industry, bolstering Saudi Arabia’s position as one of the world’s leading sports and entertainment destinations," said the PIF, which leads an investor group that notably acquired Premier League side Newcastle United FC in October 2021.

Saudi Arabia is already involved in hosting major sporting events. For example, it will host the FIFA Club World Cup from 12 to 22/12/2023, four editions of…