PIF establishes SRJ Sports Investments Company
To advance the sports industry in Saudi Arabia and the MENA
Riyadh – Asdaf News:
In order to hasten the development of the sports industry in Saudi Arabia and the MENA region, the Public Investment Fund (PIF) today announced the founding of SRJ Sports Investments.
In addition to organising significant international events in Saudi Arabia, SRJ Sports Investments will invest in purchasing and developing new sports event IP, commercial rights to well-known and well-attended sporting events, and other related projects. It is anticipated that these investments will generate financial benefits and localise partnerships both domestically and in the MENA region.
In order to strengthen Saudi Arabia’s position as one of the top sports and entertainment destinations in the world, the new company will target companies that specialise in providing innovative fan engagement activities and game-changing sports technology across the industry.
Head of MENA Direct Investments at PIF Raid Ismail 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 sports sector is one of PIF’s 13 priority sectors for investment.
