The Public Investment Fund (PIF) has announced a new venture set to reshape the sports landscape in Saudi Arabia and the broader Middle East and North Africa (MENA) region.
The PIF has established SRJ Sports Investments, a dedicated sports investment company with aims to propel the growth of the sports sector in the region.
With a strategic focus on bolstering the sports domain, SRJ Sports Investments is poised to make a significant impact by acquiring and developing sports events intellectual property, securing commercial rights for prominent sports competitions, and assuming the role of a global events host, all within the kingdom.
This multifaceted approach is projected to not only generate substantial financial gains but also foster domestic and regional partnerships.
The innovative pursuits of SRJ Sports Investments extend to its targeted investment area, as the company sets its sights on enterprises specialising in distinctive fan engagement endeavors and transformative sports technology.
The amalgamation of these strategic thrusts is poised to solidify Saudi Arabia’s standing as a preeminent global destination for sports and entertainment.
Saudi Arabia’s sports growth accelerated
In a statement, Raid Ismail, Head of MENA Direct Investments at PIF said: “We are thrilled to announce the establishment of SRJ Sports Investments Company to accelerate the growth of the sports sector in Saudi Arabia and the MENA region, by creating and investing in international sports IP, enhancing the fan experience through hosting major global events, and investing in transformative technologies.
“The company will complement other PIF investments in the sports sector, all of which are contributing to a more vibrant society, in line with PIF’s strategy and Saudi Vision 2030,” he added.
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