MANCHESTER, England — Despite stepping away from golf financing, Saudi Arabia’s sovereign wealth fund announced Thursday it has expanded its soccer investments by securing an “official tournament supporter” designation for the World Cup.
The kingdom’s public investment fund (PIF) revealed earlier this month it would cease future financial backing for LIV Golf, sparking uncertainty about its long-term athletic investment strategy following years of massive spending.
However, the partnership announcement emphasized that athletics remains a “priority sector” for the fund.
Financial terms of the agreement, which encompasses North America and Asia, remain undisclosed, though the deal further solidifies the relationship between Saudi Arabia and soccer’s international governing body.
The petroleum-wealthy nation secured hosting rights for the 2034 World Cup, while PIF served as a commercial partner during last year’s Club World Cup tournament.
SURJ Sports Investment, owned by PIF, maintains ownership stakes in online streaming platform DAZN, which provided Club World Cup broadcasts.
FIFA financial records indicate television broadcasting rights generated “the lion’s share” of its 2025 annual income, exceeding $1 billion in value.
Soccer represents a central component of Saudi Arabia’s strategy to reduce dependence on petroleum revenues while developing alternative income sources.
This approach has involved attracting premier athletes including Cristiano Ronaldo, Neymar and Karim Benzema to the domestic league, along with purchasing Premier League team Newcastle. Securing World Cup hosting rights stands as the most significant accomplishment to date.
Additional athletic investments encompass hosting world championship boxing events, Formula One racing and tennis competitions.
The controversial LIV Golf tour’s 2022 debut significantly disrupted professional golf, attracting elite players such as Bryson DeChambeau, Phil Mickelson, Brooks Koepka and Dustin Johnson from the PGA. LIV Golf expenditures are projected to surpass $6 billion by year’s end.
Although the flow of top soccer talent to the Saudi league has decreased following initial aggressive recruiting efforts, PIF maintains the sport plays a “crucial role in the ongoing transformation of Saudi Arabia.”
“PIF continues to expand its global footprint in sport, with football at the heart of this growth,” stated head of corporate brand Mohamed AlSayyad.
