The ATP has signed a five-year sponsorship deal with Saudi Arabia's sovereign wealth fund - the Public Investment Fund (PIF), in a major development.
The men's governing body confirmed this collaboration as the Gulf kingdom continues to make its entrance into the top tier of professional tennis. In its announcement, the ATP called it a "strategic partnership" which is meant to "accelerate the growth of global tennis."
The nitty-gritty of this deal will instill the PIF as the official naming partner of the ATP rankings (to be known as PIF ATP Rankings). The year-end World No. 1, which is bestowed to the player with the most points at the end of the season at the ATP Finals in Turin, will also be named after the PIF.
Additionally, the PIF will also partner with major tennis tournaments like Indian Wells, Miami, Madrid, and Beijing and the season-ending ATP Finals for courtside branding and activation opportunities. Saudi Arabia's penetration into tennis has grown exponentially this year, having appointed Rafael Nadal as the ambassador of its tennis federation.
The PIF is the wealth fund of Saudi Arabia, and major outlets around the world call it a big pot of money. It has total assets worth over $700 million as of 2024. Saudi Arabia's crown prince, Mohammed Bin Salman, has sought to diversify the country's economy by modernizing Saudi Arabia.
The fund has done so through investments in sports and joint ventures, which is part of three themes in its Vision 2030 plan. Mohamed AlSayyad, who is the Head of Corporate Brand at PIF, lauded this landmark partnership with the ATP in a statement on ATPTour.com, believing that it will "drive transformation."
"As PIF expands its portfolio of innovative sponsorships, our commitment to 'Invested in Better' remains unwavering. Through our collaboration with ATP, PIF will be a catalyst for growth of the global tennis landscape, developing talent, fostering inclusivity and driving sustainable innovation."
"This strategic partnership aligns with our broader vision to enhance quality of life and drive transformation in sport both within Saudi and across the world."
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