It isn’t easy to compete with Saudi money.
After a two year run as the name sponsor of tennis’ ATP Rankings of the world’s top players, leading Australia based online broker Pepperstone is ceding the naming rights to Saudi Arabia’s Public Investment Fund (PIF), which has estimated assets under management approaching $1 trillion. The Saudi PIF has signed a five year sponsorship deal with the ATP Tour, which will will see PIF become the official naming partner of the ATP Rankings.
The PIF will also partner with ATP Tour events in Indian Wells, Miami, Madrid, Beijing and the Nitto ATP Finals, in addition to the Next Gen ATP Finals, to be hosted annually in Jeddah, Saudi Arabia until 2027.
The Saudi PIF fund is best known in the sports world for backing an alternative professional golf tour called LIV Golf, inking some of the world’s biggest golf stars to eight or even nine figure (USD) deals including Brooks Koepka, Phil Mickelson, and most…
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