Saudi Arabia’s PIF sign Queen’s deal despite wider sporting retreat
Saudi Arabia’s Public Investment Fund has announced a new partnership with the HSBC Championships despite a wider retreat from sport.
The agreement, described by the Lawn Tennis Association as a multi-year deal, will see the sovereign wealth giant, a partner of both the ATP and WTA Tours, link up with the London tournament.
It follows a trend of PIF pulling out, or scaling down, across sport. The Saudi fund said it would withdraw its backing for the LIV Golf League at the end of the 2026 season after injecting $5bn into the rebel tour for little return.
PIF also scaled back across snooker and tennis, and will no longer host the WTA Tour’s season-ending finals.
“PIF is the only global partner of both the ATP and WTA Tours and is the official naming partner of the PIF ATP and WTA Rankings,” a statement read.
“Their support of the tournament will allow the LTA to continue to invest in the event and other initiatives to deliver greater tennis participation across Britain.”
PIF resilience?
But the move could be seen as a U-turn just two years months after British tennis bosses refused to be involved with a proposal that would have linked up the ATP Tour and Saudi Arabia in a sponsorship deal encompassing many of the 1000-level events and Queen’s.
Swedish investment firm EQT has also partnered with the HSBC Championships following its announcement of a global sports sponsorship agreement with the ATP earlier this month with the HSBC Championships.
The Public Investment Fund branding is expected across the Queen’s Club for the tournament, which this week will include the return of Serena Williams to the court.
Saudi Arabia has remained in tennis despite the Public Investment Fund’s general retreat, with the blockbuster Six Kings Slam taking place in the kingdom under the watch of boxing supremo Turki Alalshikh.