Riyadh, February 28, 2024, In a joint announcement today, the Public Investment Fund (PIF) and ATP revealed a new strategic partnership set to revolutionize the global tennis landscape. This landmark collaboration underscores a shared commitment to elevating the sport for players, fans, organizers, and stakeholders worldwide, as outlined in a press release from PIF.
Central to the partnership is PIF's official naming sponsorship of the ATP Rankings, a move aimed at celebrating players' achievements and advancements throughout the season. Notably, PIF will also be presenting the Year-End No. 1 accolade at the Nitto ATP Finals in Turin, Italy, until 2025, further solidifying its role in recognizing excellence within the sport.
As part of the agreement, PIF will extend its support to various ATP Tour events, including those in Indian Wells, Miami, Madrid, Beijing, the Nitto ATP Finals, and the Next Gen ATP Finals, hosted in Jeddah until 2027. Building on the momentum of the ATP's Baseline program, launched earlier this year, PIF is committed to fostering opportunities for emerging talent and player pathway initiatives, thereby nurturing the next generation of tennis stars.
The partnership aligns seamlessly with PIF's overarching sponsorship strategy, which prioritizes inclusivity, sustainability, youth, and technology. Together, PIF and ATP aim to shape the long-term trajectory of tennis, with a focus on promoting unity, enhancing fan engagement, and capitalizing on growth opportunities across the sport.
Commenting on the partnership, ATP CEO Massimo Calvelli remarked, "Our strategic alliance with PIF marks a significant milestone for tennis. It represents a shared vision to drive the sport forward and foster innovation. With PIF's commitment to nurturing the next generation and fostering inclusivity, we are poised to embark on a transformative journey of progress."
Similarly, Mohamed AlSayyad, Head of Corporate Brand at PIF, expressed enthusiasm about the collaboration, stating, "As PIF expands its portfolio of forward-thinking sponsorships, our dedication to 'Invested in Better' remains steadfast. Through our partnership with ATP, PIF aims to propel the growth of tennis on a global scale, empowering talent, promoting inclusivity, and driving sustainable innovation. This strategic alignment reflects our broader vision to enhance quality of life and catalyze change in sports, both within Saudi Arabia and worldwide."
The strategic alliance comes at a time when tennis is gaining rapid momentum in Saudi Arabia, with a notable 46% increase in registered players between 2019 and 2023. Leveraging ATP's expertise, PIF is poised to further cultivate opportunities for young Saudis in tennis, including through cutting-edge facilities, coaching programs, and an enhanced player pathway within the kingdom.
