Arab News

RIYADH: Aiming to accelerate the growth of the sports sector in Saudi Arabia and the Middle East and North Africa region, the Kingdom’s Public Investment Fund has established a new sports investment company.

SRJ Sports Investments Co. will focus on acquiring and developing new events intellectual property, commercializing notable competitions and organizing major global events in Saudi Arabia.

The PIF-owned company will target firms specialized in providing fan engagement activities and disruptive technology across the sector, reinforcing the Kingdom’s position as a global leader in sports and entertainment destination.

As a long-term investor, the entertainment, leisure, and sports sector is one of the sovereign wealth fund’s 13 priority sectors for investment.

Commenting on the development, Raid Ismail, head of MENA Direct Investments at PIF said: “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.”