Tennis
ATP Tour Strikes Lucrative Five-Year Sponsorship with Saudi Arabia
by privatebet.com - 2024/02/29
Saudi Arabia is expanding its influence in the world of sports to tennis, and they just struck a major partnership with the world’s leading tennis association. Saudi Arabia's Public Investment Fund agreed to a five-year strategic partnership with the ATP Tour. The ATP rankings and the year-end world No. 1 award will be named after Saudi's Public Investment Fund under the new deal. Their on-court branding will be present at several major ATP 1000 events at Indian Wells, Miami, Madrid, and Beijing. This multiyear strategic partnership, which is reportedly worth in the low seven-figure range, marks Saudi Arabia’s latest attempt to strengthen its influence in the world of tennis. They already host the Next Gen ATP Finals for players 21 and under and the recently announced 6 Kings Slam, which will welcome the likes of Novak Djokovic, Rafael Nadal, and Carlos Alcaraz to Riyadh in October. Massimo Calvelli, the ATP chief executive officer, confirmed their new deal with PIF and described it as a major moment for tennis. “It’s a shared commitment to propel 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 transformative new period of progress,” said Calvelli in a statement.