Saudi Arabia's Sports Investments Surge in 2023, No Slowdown Expected in 2024

Kingdom's Public Investment Fund Backs LIV Golf, Recruits Top Players, and Expands into Global Soccer and Cricket

Saudi Arabia's influence in professional sports has grown significantly in 2023, with the kingdom investing heavily in various sports leagues around the world.
The kingdom's Public Investment Fund (PIF) has been instrumental in this push, backing the LIV Golf league and recruiting high-profile players such as Jon Rahm with lucrative contracts.
Saudi Arabia has also made inroads into global soccer, with the PIF owning the Premier League’s Newcastle soccer club and Cristiano Ronaldo joining a Saudi team in a deal worth a reported $200 million a year.
The Saudis are also looking to invest $5 billion into cricket’s Indian Premier League and host a Formula One auto race, signaling no slowdown in their sports investments in 2024.
The kingdom's sports investments have sparked debates about 'sportswashing', but the focus has shifted towards the financial benefits for athletes and the sports industry.