MANCHESTER, England (AP) 鈥� Saudi Arabia鈥檚 sovereign wealth fund may have , but on Thursday it deepened its investment in soccer by becoming an 鈥渙fficial tournament supporter鈥� of the World Cup.
The kingdom’s public investment fund (PIF) announced this month that it was pulling the plug on future funding for LIV Golf, raising questions about its long-term plans for other sports after its enormous spending in recent years.
But in announcing the partnership, it said sport was a 鈥減riority sector.鈥�
The value of the deal, which covers North America and Asia, was not disclosed, but it further strengthens ties between Saudi Arabia and world soccer’s governing body.
The oil-rich kingdom has won the rights to host the 2034 edition of the World Cup and PIF was a .
The PIF-owned SURJ Sports Investment also owns a stake online streamer DAZN, which broadcast the Club World Cup.
According to FIFA accounts, television broadcasting rights had contributed 鈥渢he lion鈥檚 share鈥� of its annual revenue in 2025, worth more than $1 billion.
Soccer has been a major focus for Saudi Arabia as it looks to and look to other revenue-generating sectors.
That has included enticing some of the sport’s biggest stars like Cristiano Ronaldo, Neymar and Karim Benzema to its domestic league and buying Premier League club Newcastle. Winning the right to host the World Cup is its standout achievement so far.
Investment in other sports includes hosting a number of world championship boxing matches, Formula One racing and tennis.
The launch of the contentious in 2022 was a major disruptor for the sport, luring top players like Bryson DeChambeau, Phil Mickelson, Brooks Koepka and Dustin Johnson away from the PGA. LIV Golf’s spending is by the end of the year.
While there has been a slowdown of top soccer players heading to the Saudi league after its earlier aggressive recruitment drive, PIF said the sport was 鈥渃rucial role in the ongoing transformation of Saudi Arabia.鈥�
鈥淧IF continues to expand its global footprint in sport, with football at the heart of this growth,” head of corporate brand Mohamed AlSayyad said.
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