Saudi Arabia's PIF Reportedly Attempting Insane Tennis Takeover With $2 Billion Offer

Saudi Arabia's PIF Reportedly Attempting Insane Tennis Takeover With $2 Billion Offer

by Erik Virostko

Tennis as we know it today may change in the near future, as Saudi Arabia is trying to acquire the vast majority of the sport via its Public Investment Fund (PIF).

With a few exhibitions being held in Saudi Arabia every now and then, the country has been making slow and steady steps towards acquiring the sport for a few years already.

Last year, the voices started getting louder, and Saudi Arabia made its first official move also on the ATP Tour, signing a deal to host the Next Gen ATP Finals.

Since then, they continued the expansion, becoming an apparel sponsor for women's elite player Ons Jabeur, but also officially entering a partnership with the ATP, thanks to which fans are now able to see the PIF logos all over the Indian Wells Tennis Garden, where an ATP and WTA 1000 events are held at the moment.

It was during the Indian Wells Open on Saturday that the sport's leading figures discussed the possible creation of a new Premium Tour, something that would also completely change the sport as we know it today.

According to The Telegraph, it was after these discussions that the ATP's chairman, Andrea Gaudenzi, requested the representatives from the Masters 1000 tournaments to stay in the room after the representatives of the four Grand Slams departed the meeting after the official end.

As the publication reports, this should have been to announce the offer made by the Public Investment Fund (PIF) to the ATP and WTA, including the tournaments of a 1000 category.

The offer should equal to $1 billion for each Tour, with a take-it-or-leave-it nature, as The Telegraph claims it will expire after 90 days in case of a negative answer.

The publication also claims that if the offer were to be accepted, Saudi Arabia would have a right to host a 1000 tournament in the opening weeks of each new tennis season.


You may also like