Saudi Arabia’s PIF sets up SRJ Sports Investments to speed up growth of sports sector
Company will focus on assets with high growth potential in Saudi Arabia and MENA region
Riyadh: Saudi Arabia’s Public Investment Fund (PIF) announced the establishment of SRJ Sports Investments, a sports investment company that aims to accelerate the growth of the sports sector in Saudi Arabia and MENA, on Sunday.
SRJ Sports will invest in acquiring and creating new sports events IP, commercial rights of popular and prominent sports competitions and hosting major global events in Saudi Arabia. These investments are expected to deliver financial returns and localise partnerships domestically and in the MENA region.
The new company will target businesses specialised in offering unique fan engagement activities and transformative sports technology across the industry.
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.”
As a long-term investor, the entertainment, leisure, and the sports sectors are one of PIF’s 13 priority sectors for investment.