Saudi Arabia-Owned PIF, Worth $770+ Billion, To Buy ATP Miami Masters or Paris Masters 1000 Event? New Event Likely To Start Soon

Saudi Arabia is ready to go bigger into the tennis world as they continue in their attempts to be a sporting nation. The Saudi Arabia Public Investment Fund (PIF) managers are in talks to invest in a Masters 1000 event from 2025. With their bid to host the NextGen Finals accepted starting this year, Saudi is all set to come up on the tennis map.

There have been various reports suggesting that Saudi Arabia has been trying to buy the license to own the Miami Masters or the Madrid Masters. As per The Athletic, Saudi Arabia is in talks with the ATP to be the biggest investor in either or both of the competitions, which are iconic in the tennis calendar. This would give the country a huge say in the organizing and the pay structure of the events.

The ATP and Saudi officials have been in reported discussions of a Masters 1000 tournament to be held in the country as well, which would open a calendar year before the Australian Open. This move is widely been seen as a tactic by Saudi Arabia to lure top players to play in the country at the expense of skipping ATP 250 tournaments in Sydney and Brisbane, which would mainly then be played by second tier players.

However, Saudi could be encouraged by the fact that Novak Djokovic and Carlos Alcaraz, the world’s top 2 players have reportedly agreed to play an exhibition match in principle at least in Riyadh or Jeddah at the end of the 2023 season. An official announcement confirming the same is still awaited.

Additionally, Saudi Arabia were in talks to host the WTA Finals this season as well. However, they could not reach an agreement with and the tournament was held at Cancun, Mexico. What could work in Saudi Arabia’s favor is that the WTA Finals came into criticism by fans and players due to the poor playing conditions and timings.

How ATP is part of Saudi Arabia and its long-term sports strategy

Saudi Arabia have been gradually spreading their wings in the sports market. The kingdom hosts a Grand Prix in Formula 1, major Golf tournaments and also owns a team in one of soccer’s cash-rich tournament, the UK’s Premier League for example. Additionally, Saudi Arabia are the sole bidders for the 2034 FIFA World Cup and look the favorites to host it. In the British Commonwealth sport of cricket, Saudi is planning a significant investment in the $30 billion-worth tournament, the Indian Premier League (IPL).

However, the road is not quiet easy for the kingdom of Saudi Arabia, despite its PIF being worth above $770 billion according to multiple media reports. These attempts by the kingdom are ‘sports washing’ factors according to many people. Saudi Arabia has a poor human rights record and strict laws against women and LGBTQ community. It presents a serious obstacle to its goal of becoming a significant force in professional sports.

A few athletes have backed the introduction of women’s tennis in the area. However, the tennis world still remains divided with increasing Saudi Arabian investment in the sport. While many players agree with it due to more money coming into the game and hopefully to players such as Alcaraz and Nick Kyrgios, others believe that morally this is not a good sign for the sport.