Saudi Arabia’s Ambitious Move to Invest in World Athletics
Saudi Arabia, through its sovereign wealth fund, the Public Investment Fund (PIF), is considering a substantial investment in World Athletics, the governing body for track and field sports. This potential deal highlights the kingdom’s continued efforts to expand its influence in the global sports industry, diversify its economy, and enhance its presence in international athletic events.
The proposed investment aligns with Saudi Arabia’s broader Vision 2030 initiative, a strategic framework aimed at reducing the country’s dependence on oil revenue by developing other sectors, including sports and entertainment. Over the past few years, Saudi Arabia has significantly increased its investments in major sporting events and organizations worldwide. This move into track and field could further solidify the nation’s position as a major player in global sports governance and sponsorship.
The Potential Investment
According to sources familiar with the matter, SRJ Sports Investments, a subsidiary of PIF, is in active discussions to acquire a stake in a new entity that World Athletics may establish to manage its commercial rights. If the deal materializes, this new entity could be valued at around £500 million (approximately $635 million).
While the discussions are ongoing, there is no certainty that an agreement will be reached. However, if finalized, this deal would provide World Athletics with a substantial financial boost, allowing it to enhance its commercial operations, develop new competitions, and attract a broader audience to the sport.
A spokesperson for World Athletics acknowledged that the organization is engaging with multiple potential partners but refrained from commenting specifically on Saudi Arabia’s interest. The spokesperson stated, “We are delighted to be in this position even if not all discussions end in a partnership. Where partnerships are agreed, we announce them.”
This possible investment comes at a time when World Athletics is exploring ways to modernize the sport, increase its global appeal, and generate more revenue. The injection of funds from Saudi Arabia could help finance new initiatives aimed at expanding the sport’s reach, particularly among younger audiences.
Saudi Arabia’s Expanding Sports Portfolio
Saudi Arabia’s interest in World Athletics is part of a broader and aggressive push into the global sports industry. Over the past few years, the kingdom has invested heavily in soccer, golf, boxing, cycling, and motorsports.
In the world of soccer, Saudi Arabia’s PIF took control of Premier League club Newcastle United and has played a key role in the transformation of the Saudi Pro League by signing high-profile players, including Cristiano Ronaldo and Neymar. The country has also secured hosting rights for the 2034 FIFA World Cup, further strengthening its global football presence.
In golf, Saudi Arabia made headlines by backing LIV Golf, a professional tour that disrupted the traditional golfing landscape and eventually merged with the PGA Tour in a multibillion-dollar deal. In addition, Saudi Arabia has hosted major boxing fights and expanded its presence in combat sports.
SRJ Sports Investments, launched in August 2023, is specifically tasked with accelerating the growth of the sports sector within Saudi Arabia and the broader Middle East and North Africa (MENA) region. The firm focuses on acquiring and creating sports event intellectual properties, securing commercial rights for major competitions, and bringing prestigious global sporting events to Saudi Arabia.
Recently, SRJ acquired a minority stake in DAZN, a sports streaming platform, and has explored potential investments in new boxing and cycling leagues. This suggests that Saudi Arabia is not only looking to invest in existing sports organizations but also to help shape the future of sports media and entertainment.
Implications for World Athletics
For World Athletics, securing an investment from a well-funded entity like SRJ could have significant benefits. The governing body has been seeking ways to modernize the sport and boost its commercial appeal, especially as it faces increasing competition from other global sporting events.
World Athletics President Sebastian Coe has emphasized the need for innovation and fresh engagement strategies to keep the sport relevant. One of the major proposals to achieve this is the introduction of the World Athletics Ultimate Championship, a new competition set to debut in 2026 with a record prize fund of $10 million.
The additional financial resources from Saudi Arabia could help expand prize money, increase sponsorship opportunities, and enhance marketing efforts to attract younger audiences. Furthermore, improved funding could lead to better athlete support programs, upgraded facilities, and the development of high-profile global events that increase the sport’s visibility.
Critics, however, may raise concerns about Saudi Arabia’s growing influence over international sports. The kingdom has faced accusations of “sportswashing,” a term used to describe the use of sports investments to improve a nation’s image and distract from human rights concerns. Nevertheless, Saudi Arabia’s increasing involvement in sports is reshaping the industry, and its financial power is difficult for governing bodies to ignore.
Global Sports Investment Trends
Saudi Arabia’s interest in World Athletics aligns with a broader global trend in which sovereign wealth funds and private investors are pouring billions of dollars into sports organizations. The commercial appeal of sports, combined with massive broadcasting revenues and sponsorship deals, makes this sector an attractive investment opportunity.
Other nations, including Qatar and the United Arab Emirates, have also invested heavily in global sports. Qatar successfully hosted the 2022 FIFA World Cup, despite initial skepticism, and has expanded its influence in European football through Paris Saint-Germain’s ownership. Meanwhile, the UAE continues to be a major force in motorsports, cycling, and mixed martial arts.
For Saudi Arabia, these investments represent more than just financial opportunities—they are part of a long-term strategy to elevate the kingdom’s global status, attract tourism, and position itself as a leading destination for major international events. By securing high-profile sports investments, Saudi Arabia is not only diversifying its economy but also shaping the future of the global sports landscape.
Conclusion
Saudi Arabia’s potential investment in World Athletics marks another significant step in its ongoing sports expansion strategy. If the deal is finalized, it could provide World Athletics with crucial funding to enhance the sport’s global reach and commercial viability.
For Saudi Arabia, this investment aligns with its broader Vision 2030 goals, further positioning the country as a major player in international sports. As negotiations continue, the outcome of this deal could reshape the commercial structure of track and field and reinforce Saudi Arabia’s growing influence in the sports world.
With the increasing trend of sovereign wealth funds entering the sports industry, the future of global athletics could see significant changes driven by new financial partnerships, commercial strategies, and international collaborations. Whether seen as a necessary financial boost or a controversial power play, Saudi Arabia’s potential investment in World Athletics is a development that will be closely watched by sports stakeholders worldwide.
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