The Public Investment Fund (PIF) of Saudi Arabia has formed a multiyear strategic partnership with the ATP Tour, the global governing body of men's professional tennis, to enhance global tennis and its long-term future, elevate youth and unlock opportunities for the next generation of players.
The partnership incorporates PIF's four sponsorship pillars: inclusivity, sustainability, youth and technology, said a release from the sovereign wealth fund, which has almost $600 billion in assets.
The Riyadh, Saudi Arabia-based PIF will become the official naming partner of the ATP Rankings. The two entities will partner at ATP Tour events across the globe, including in Miami and Beijing, and at the Next Gen ATP Finals, which will be hosted in Jeddah until 2027.
The partnership will also support future players after the launch this year of ATP's Baseline program, with the PIF committing to develop and unlock new opportunities for young players.
"As PIF expands its portfolio of innovative sponsorships, our commitment to 'invested in better' remains unwavering," Mohamed Alsayyad, head of corporate brand at the PIF, said in the release.
"Through our collaboration with ATP, PIF will be a catalyst for growth of the global tennis landscape, developing talent, fostering inclusivity and driving sustainable innovation. This strategic partnership aligns with our broader vision to enhance quality of life and drive transformation in sport both within Saudi and across the world."
Tennis is also becoming a key sport in Saudi Arabia, the PIF said — between 2019 and 2023, the number of registered players increased by 46%. The PIF will leverage ATP's expertise to develop more opportunities for young Saudis in tennis, such as facilities and coaching.
PIF's monetary commitment to the partnership was not immediately available. It has other sport-related partnerships in place, including for professional golf.