Saudi Arabia tempts tennis with its billions
It has turn out to be clear in the previous couple of years that the previous saying that “every man has his price” is simply as relevant to sport as the rest. This has clearly not been misplaced on Saudi Arabia, which has been pumping large sums of cash into sport for years. Three examples are the LIV golf match sequence, Formula One and soccer — with the Gulf state anticipated to host the 2034 World Cup.
According to the Saudi authorities, the investments are merely a part of its Vision 2030 growth plan, with which Crown Prince Mohammed Bin Salman is aiming to modernize his nation and make it much less depending on oil revenues.
On the opposite hand, human rights organizations like Amnesty International and Human Rights Watch have accused Riyadh of “sportswashing.” They argue that by funding shiny sporting occasions, Saudi Arabia is aiming to divert consideration from blatant human rights violations within the nation.
Now the Gulf state is reaching out to the tennis world — with an indecent proposal.
Offer legitimate for a restricted time solely
According to the UK each day The Telegraph, Saudi Arabia’s Public Investment Fund (PIF) has supplied $2 billion (€1.83 billion) for the rights to the ATP and WTA tournaments within the class slightly below the 4 Grand Slam tournaments, the Australian Open, French Open, Wimbledon and US Open by way of status and prize cash.
According to the newspaper, the PIF has given the lads’s (ATP) and ladies’s (WTA) skilled tennis associations 90 days to determine whether or not to just accept the provide. This comes six months after the ATP and WTA negotiated a merger of their associations — reportedly in an effort to counteract the growing affect of Saudi Arabia in worldwide tennis.
The Gulf state’s present overtures to the world of tennis are harking back to its efforts to ascertain a foothold in golf. In {the golfing} world, the PIF and its new LIV Golf sequence confronted fierce resistance from the venerable PGA Tour. In the tip although, the 2 sides introduced a deal “to unite the sport of golf.”
The amount of cash paid to the PGA has by no means been revealed, however one factor is evident: the Saudis are something however brief on monetary assets. According to the Sovereign Wealth Fund Institute — a US firm that analyzes sovereign wealth funds and different public buyers worldwide — the PIF’s property just lately elevated by over 20% to round $940 billion. This was as a result of a doubling of its stake within the Saudi oil firm Aramco from 4% to eight%.
Nadal as Saudi Arabia’s tennis ambassador
Saudi Arabia has been making an attempt to achieve a foothold in skilled tennis for a while. In January, Spanish celebrity Rafael Nadal was unveiled because the nation’s new tennis ambassador. In October, the Six Kings Slam is about to premiere within the capital, Riyadh, a showcase match that includes males’s singles stars Nadal, Novak Djokovic, Jannik Sinner, Daniil Medvedev, Carlos Alcaraz and Holger Rune.
It has additionally been reported that the WTA Finals, the ultimate match of the season for the eight finest ladies’s singles gamers, may be held in Saudi Arabia for the primary time this 12 months.
When Nadal was requested whether or not, because the nation’s tennis ambassador, he was not complicit in sportswashing, the Spaniard replied: “I don’t think Saudi Arabia needs me to wash any images.”
It’s all a query of value.
This article was initially written in German
