It is not easy to compete with Saudi money.
After two years as a sponsor of the ATP Rankings of the world’s top tennis players, leading Australian-based online broker Pepperstone is assigning naming rights to Saudi Arabia’s Public Investment Fund (PIF), which has valued assets under management approaching $1 trillion. The Saudi PIF has signed a five-year sponsorship deal with the ATP Tour, which will see the PIF become the official name 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, which will be hosted annually in Jeddah, Saudi Arabia until 2027.
Saudi Arabia’s PIF fund is best known in the sports world for backing an alternative professional golf tour called LIV Golf, linking some of the world’s biggest golf stars in eight or even nine-figure (USD) deals, including Brooks Koepka, Phil Mickelson and most recently world #3 ranked golfer Jon Rahm.
FNG spoke to Pepperstone CEO Tamas Szabo about the company’s two-year run as a sponsor of the Pepperstone ATP Rankings, who said:
“We’ve loved being part of the ATP Tour and ranking sponsor for two years. We now hand it over to the PIF and wish the ATP the best of luck. We will remain committed to tennis in other ways and will announce more about that soon.”
Massimo Calvelli, CEO of ATP, said of the new partnership:
“Our strategic partnership with PIF marks an important moment for tennis. It is a shared commitment to advance the future of the sport. With PIF’s commitment to the next generation – driving innovation and creating opportunity for all – the stage is set for a transformative new era of progress.”
Mohamed AlSayad, Head of Corporate Branding at PIF, said:
“As PIF expands its portfolio of innovative sponsorships, our commitment to ‘Investing Better’ remains unwavering. Through our partnership with the ATP, the PIF will be a catalyst for developing the global tennis landscape, developing talent, promoting participation and promoting sustainable innovation. This strategic partnership aligns with our broader vision to improve the quality of life and drive transformation in sports both in Saudi Arabia and around the world.”