adidas: partnership with Sela (events, KSA) to develop activations in Saudi Arabia

German sports equipment manufacturer adidas and Saudi events company Sela, owned by Saudi sovereign wealth fund Public Investment Fund (PIF), have entered into a strategic partnership to "develop new youth programmes" in Saudi Arabia, announced the two parties on 02/02/2024.

As part of the agreement, adidas and Sela will "explore opportunities across retail and brand activation with adidas, as well as consider broader areas such as sponsorships, events, grassroots programmes and collaborative content," explained the two brands, who are focusing on "promoting inclusivity, and encouraging healthy, active lifestyles" in Saudi Arabia.

Sela is also the main shirt sponsor of Newcastle United FC (Premier League) from the 2023-24 season, as part of a "multi-year agreement" valued at €29m per season.
• The club, whose acquisition by the PIF was finalised on 01/07/2021, has two other Saudi sponsors: the e-commerce platform noon (sleeve sponsor, 2022-2024; €8.7m), 50%-owned by the PIF, and the Saudi airline Saudia (official partner, since 2023-24).
• The English club is also under an equipment…