The Clap
Sarj for Sports Investments, affiliated with the Public Investment Fund, has acquired a minority stake in the American Professional Fighters League (PFL) for mixed martial arts. This reflects Saudi Arabia’s orientation towards investing in the sports sector.
What
The acquisition is the first investment for Sarj, which the Saudi Fund announced its establishment earlier this month, for the purpose of “hosting global sporting events” in the Kingdom. The value of the deal was not disclosed, but the British “Financial Times” newspaper reported that it amounts to $100 million.
So What
Recent years have seen significant Saudi investments in games, sports, and various championships. These have included green golf courses, Formula 1 race tracks, and football. Local clubs have also contracted global stars such as Portugal’s Cristiano Ronaldo, Brazil’s Neymar, and France’s Karim Benzema.
Now What
The Professional Fighters League (PFL) plans to launch a regional championship and organize massive events in the Kingdom, where the youth under 30 years old, represent about 51% of its total population, amounting to 32.2 million.
