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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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Saudi Arabia's 2034 FIFA World Cup Bid Conference Highlights Key Aspects of the Landmark Event 

Saudi Arabia is experiencing a historic moment as it prepares to host the largest edition of the World Cup ever held in a single country. (SPA)
Saudi Arabia is experiencing a historic moment as it prepares to host the largest edition of the World Cup ever held in a single country. (SPA)
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Saudi Arabia's 2034 FIFA World Cup Bid Conference Highlights Key Aspects of the Landmark Event 

Saudi Arabia is experiencing a historic moment as it prepares to host the largest edition of the World Cup ever held in a single country. (SPA)
Saudi Arabia is experiencing a historic moment as it prepares to host the largest edition of the World Cup ever held in a single country. (SPA)

Saudi Football Federation (SAFF) president Yasser Al-Misehal stressed on Wednesday that Saudi Arabia's bid to host the FIFA World Cup 2034 has received unprecedented historical support from over 140 countries, reflecting the significant confidence of the international community to host the World Cup.

He noted that Saudi Arabia is experiencing a historic moment as it prepares to host the largest edition of the World Cup ever held in a single country.

"There is complete synergy and coordination among all government sectors to ensure the success of our bid to host this global event. We will deliver the best edition in the history of the World Cup on Saudi soil in 2034," he said in Riyadh at the official news conference on the Saudi bid.

A FIFA team will soon visit the host cities as part of the bid evaluation process. (SPA)

Saudi Vision 2030 has driven significant development and opened the doors for the world to see Saudi Arabia, he added, noting: "The World Cup is a grand dream for the entire Saudi community."

Al-Misehal expressed his gratitude and appreciation to Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud for his support of all sectors in general and sports in particular.

He also thanked Prince Mohammed bin Salman bin Abdulaziz, Crown Prince and Prime Minister, for his contributions to Saudi sports and his endorsement of the World Cup 2034 bid.

He acknowledged the support of Minister of Sport Prince Abdulaziz bin Turki bin Faisal throughout the journey to submit the bid.

He highlighted the new sports stadiums that will be used for the event and that will benefit future generations. The AFC Asian Cup 2027 in the Kingdom will provide an opportunity to test some of these stadiums.

The opening and final matches of the World Cup will be held in the capital, Riyadh. (SPA)

Efforts are ongoing to prepare a highly capable national team to represent the Kingdom at the 2034 World Cup, he went on to say.

Meanwhile, head of the bid committee at the SAFF Hammad Al-Balawi said that by hosting the World Cup, the Kingdom will be the first country to organize the tournament alone in its new format.

The 10-year journey has already started, he remarked.

The bid enjoys unlimited support from the wise leadership, he continued, saying that hosting the World Cup will create numerous job opportunities for the Saudi people. Eighty percent of Saudis are sports enthusiasts in general, and football fans in particular.

The opening and final matches of the World Cup will be held in the capital, Riyadh, he noted.

The news conference featured a visual presentation of Saudi Arabia's bid, highlighting the five host cities and 15 world-class stadiums. (SPA)

A FIFA team will soon visit the host cities as part of the bid evaluation process.

The news conference featured a visual presentation of Saudi Arabia's bid, highlighting the five host cities and 15 world-class stadiums, as well as plans for the railway network connectingthe Kingdom with Gulf countries.