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PIF Establishes SRJ Sports Investments Company to Elevate Sports Sector in Saudi Arabia, MENA

The Public Investment Fund announced the establishment of SRJ Sports Investments. (SPA)
The Public Investment Fund announced the establishment of SRJ Sports Investments. (SPA)
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PIF Establishes SRJ Sports Investments Company to Elevate Sports Sector in Saudi Arabia, MENA

The Public Investment Fund announced the establishment of SRJ Sports Investments. (SPA)
The Public Investment Fund announced the establishment of SRJ Sports Investments. (SPA)

Saudi Arabia's Public Investment Fund (PIF) announced on Sunday the establishment of SRJ Sports Investments, a sports investment company that aims to accelerate the growth of the sports sector in Saudi Arabia and the Middle East and North Africa region.

SRJ Sports Investments will invest in acquiring and creating new sports events IP, commercial rights of popular and prominent sports competitions and hosting major global events in Saudi Arabia. These investments are expected to deliver financial returns and localize partnerships domestically and in the MENA region.

The new company will target businesses specialized in offering unique fan engagement activities and transformative sports technology across the industry, bolstering Saudi Arabia’s position as one of the world’s leading sports and entertainment destinations.

Head of MENA Direct Investments at PIF Raid Ismail said: “We are thrilled to announce the establishment of SRJ Sports Investments Company to accelerate the growth of the sports sector in Saudi Arabia and the MENA region, by creating and investing in international sports IP, enhancing the fan experience through hosting major global events and investing in transformative technologies.”

“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,” he added.

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

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Biles Seeks Second Gold Medal of Paris Games in All-Around Final 

Simone Biles of the USA performs on the Balance Beam during the Women Team final of the Artistic Gymnastics competitions in the Paris 2024 Olympic Games, at the Bercy Arena in Paris, France, 30 July August 2024. (EPA)
Simone Biles of the USA performs on the Balance Beam during the Women Team final of the Artistic Gymnastics competitions in the Paris 2024 Olympic Games, at the Bercy Arena in Paris, France, 30 July August 2024. (EPA)
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Biles Seeks Second Gold Medal of Paris Games in All-Around Final 

Simone Biles of the USA performs on the Balance Beam during the Women Team final of the Artistic Gymnastics competitions in the Paris 2024 Olympic Games, at the Bercy Arena in Paris, France, 30 July August 2024. (EPA)
Simone Biles of the USA performs on the Balance Beam during the Women Team final of the Artistic Gymnastics competitions in the Paris 2024 Olympic Games, at the Bercy Arena in Paris, France, 30 July August 2024. (EPA)

Simone Biles will be chasing a sixth Olympic gold medal and her second of the Paris Olympics when she competes in the women's gymnastics all-around final on Thursday in what she has called her "redemption tour" after her withdrawal from the Tokyo Games.

Biles, the most decorated gymnast of all-time, made her much-anticipated return to the Olympic stage on Sunday when she topped the all-around qualifying standings by a solid margin and also finished as the leading contender for the floor exercise and vault finals.

Following her success at the 2016 Rio Games, Biles is favorite to win a second Olympic gold in the all-around.

Three years ago she withdrew from the event in Tokyo to prioritize her mental health after suffering from the "twisties", a condition involving the temporary loss of spatial awareness that some gymnasts can experience when executing high-difficulty elements.

In Biles' absence, her teammate Sunisa Lee took the gold in Tokyo. Lee, who finished third in qualifications behind Biles and Brazil's Rebeca Andrade, will see her fellow American as the biggest obstacle in her gold medal defense.

Biles led the United States to their fourth gold medal in the women's gymnastics team event on Tuesday at the Paris Olympics, with stellar performances on all four apparatus.

She had experienced calf pain during the qualifications but seemed to be under no visible discomfort in the team final at the Bercy Arena in Paris, where she competed with her left calf taped.