MADRID, 29 Feb. (EUROPA PRESS) –
The ATP, Association of Professional Tennis Players and its Circuit, announced this Wednesday “a strategic agreement” with the Public Investment Fund (PIF), an investment fund from Saudi Arabia, “to accelerate the global growth of tennis.”
“ATP and the Public Investment Fund (PIF) have announced a new multi-year strategic agreement, establishing an important common commitment to develop tennis globally for players, fans, tournament organizers and stakeholders at all levels of the sport,” said the ATP in a statement on its official website.
PIF will be present on the men’s tennis circuit giving its name to the world ranking, in addition to the number one award at the end of the year at the ATP Finals in Turin (Italy). Additionally, “PIF will partner with the ATP Tour on tournaments in Indian Wells, Miami, Madrid, Beijing and the Nitto ATP Finals, in addition to the Next Gen ATP Finals, which Jeddah will host until 2027.”
“Following the launch of the Baseline program at the beginning of the year, PIF is committed to strengthening the development and opening of new opportunities for young players, providing a significant boost to the new generation of stars in the sport. The link with ATP now integrates PIF’s extensive sports sponsorship platform, investing in people, projects and associations with an emphasis on the four pillars of the brand: inclusion, sustainability, youth and technology,” he adds.
“Our strategic partnership with PIF marks a key moment in tennis. It is a shared commitment to drive the future of the sport. With PIF’s dedication to the next generation – fostering innovation and creating opportunities for all – the stage is set for a new transformative period of progress,” said ATP CEO Massimo Calvelli.
“As PIF grows its portfolio of innovative sponsorships, our commitment to ‘Invest in the Best’ remains unwavering. Through our collaboration with ATP, PIF will be a catalyst for growth on the global tennis scene, developing talent, fostering inclusion and driving sustainable innovation. This strategic agreement is part of our vision to improve the quality of life and lead the transformation of sport within Saudi Arabia and around the world,” said PIF brand director Mohamed Alsayyad.
The Saudi fund continues its investment in the world of sports and, specifically in tennis, it had already strengthened ties with important names such as Novak Djokovic and Rafa Nadal, with tennis exhibitions and more. The Spanish tennis player recently became an ambassador for the Saudi Arabian Tennis Federation, amid the controversy over whether money is buying the image-washing of a country with deficiencies in terms of human rights.