• Home
  • Politics
  • Health
  • World
  • Business
  • Finance
  • Tech
  • More
    • Sports
    • Entertainment
    • Lifestyle
What's Hot

Trump Announces First Post-Tariff Trade Deal

May 8, 2025

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025

Top 10 Benefits Of Acupuncture

May 8, 2025
Facebook Twitter Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
Friday, May 9
Patriot Now NewsPatriot Now News
  • Home
  • Politics

    Security video shows brazen sexual assault of California woman by homeless man

    October 24, 2023

    Woman makes disturbing discovery after her boyfriend chases away home intruder who stabbed him

    October 24, 2023

    Poll finds Americans overwhelmingly support Israel’s war on Hamas, but younger Americans defend Hamas

    October 24, 2023

    Off-duty pilot charged with 83 counts of attempted murder after allegedly trying to shut off engines midflight on Alaska Airlines

    October 23, 2023

    Leaked audio of Shelia Jackson Lee abusively cursing staffer

    October 22, 2023
  • Health

    Disparities In Cataract Care Are A Sorry Sight

    October 16, 2023

    Vaccine Stocks—Including Pfizer, Moderna, BioNTech And Novavax—Slide Amid Plummeting Demand

    October 16, 2023

    Long-term steroid use should be a last resort

    October 16, 2023

    Rite Aid Files For Bankruptcy With More ‘Underperforming Stores’ To Close

    October 16, 2023

    Who’s Still Dying From Complications Related To Covid-19?

    October 16, 2023
  • World

    New York Democrat Dan Goldman Accuses ‘Conservatives in the South’ of Holding Rallies with ‘Swastikas’

    October 13, 2023

    IDF Ret. Major General Describes Rushing to Save Son, Granddaughter During Hamas Invasion

    October 13, 2023

    Black Lives Matter Group Deletes Tweet Showing Support for Hamas 

    October 13, 2023

    AOC Denounces NYC Rally Cheering Hamas Terrorism: ‘Unacceptable’

    October 13, 2023

    L.A. Prosecutors Call Out Soros-Backed Gascón for Silence on Israel

    October 13, 2023
  • Business

    Trump Announces First Post-Tariff Trade Deal

    May 8, 2025

    Electric Vehicle Sales Nosedive As GOP Takes Buzzsaw To Biden’s Mandate

    May 7, 2025

    Tyson Foods Announces It Will Bend The Knee To Trump Admin’s New Rules

    May 7, 2025

    Federal Reserve Holds Interest Rates Steady Despite Pressure From Trump

    May 7, 2025

    ‘Wait Them Out’: John Kennedy Tells Larry Kudlow One Lie He Suspects China’s Telling US

    May 7, 2025
  • Finance

    Ending China’s De Minimis Exception Brings 3 Benefits for Americans

    April 17, 2025

    The Trump Tariff Shock Should Push Indonesia to Reform Its Economy

    April 17, 2025

    Tariff Talks an Opportunity to Reinvigorate the Japan-US Alliance

    April 17, 2025

    How China’s Companies Are Responding to the US Trade War

    April 16, 2025

    The US Flip-flop Over H20 Chip Restrictions 

    April 16, 2025
  • Tech

    Cruz Confronts Zuckerberg on Pointless Warning for Child Porn Searches

    February 2, 2024

    FTX Abandons Plans to Relaunch Crypto Exchange, Commits to Full Repayment of Customers and Creditors

    February 2, 2024

    Elon Musk Proposes Tesla Reincorporates in Texas After Delaware Judge Voids Pay Package

    February 2, 2024

    Tesla’s Elon Musk Tops Disney’s Bob Iger as Most Overrated Chief Executive

    February 2, 2024

    Mark Zuckerberg’s Wealth Grew $84 Billion in 2023 as Pedophiles Target Children on Facebook, Instagram

    February 2, 2024
  • More
    • Sports
    • Entertainment
    • Lifestyle
Patriot Now NewsPatriot Now News
Home»Sports»Saudi Arabia to Launch Multibillion-Dollar Fund to Invest in International Sports Leagues
Sports

Saudi Arabia to Launch Multibillion-Dollar Fund to Invest in International Sports Leagues

July 7, 2023No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email

The Saudi Royal Family is preparing to launch a multibillion-dollar agency to invest in U.S. and European sports franchises, according to reports.

On the tail of the announced merger between the Saudi’s Public Investment Fund-backed LIV Golf with the U.S. PGA Tour, the government is preparing to grab up ownership portions of many other sports teams in the U.S. and elsewhere, according to the Financial Times.

“After the World Cup, there’s definitely been a sense of bullishness to invest in global sports,” said a person familiar with the PIF’s strategy to the Financial Times. “It was driven by the fact that Qatar did it so well, and Saudi Arabia’s performance in the World Cup. There’s been a noticeable sea change in how they look at global sports.”

Fans of Newcastle United wearing traditional Saudi head dress following the ownership takeover by a the Saudi Arabia Public Investment Fund ahead of...

Fans of Newcastle United wearing traditional Saudi headdresses following the ownership takeover by the Saudi Arabia Public Investment Fund ahead of the Premier League match between Newcastle United and Tottenham Hotspur at St. James Park on October 17, 2021, in Newcastle upon Tyne, England. (Robbie Jay Barratt – AMA/Getty Images)

The Saudis are not the first country in the Middle East to begin reaching outside their borders to invest in sports organizations. Abu Dhabi and Qatar have also initiated such investments.

However, the size of the Saudi campaign is unprecedented and shows that Riyadh is looking to gain global power and influence quickly.

However, the new investment effort will be separate from the PIF, and the PGA Tour merger will not be within its purview.

“The sovereign fund is chaired by Crown Prince Mohammed bin Salman, the kingdom’s day-to-day ruler who has tasked the PIF with steering his country’s economic reform plan, increasingly centralising targeted sectors including sports under the sovereign wealth fund,” The Times wrote.

See also  Things get real for YouTuber Bradley Martyn as Demetrious Johnson agrees to fight him after viral claim

“The company, which is chaired by Prince Mohammed and has a $38bn war chest, has spent almost $8bn on acquisitions over the past 18 months in what one analyst described as a “bulldozer approach,” snapping up among others the US-based games developer Scopely for $5bn,” the Times added.

Attendees visit the Public Investment Fund booth on day two of the Future Investment Initiative conference in Riyadh, Saudi Arabia, on Wednesday,...

Attendees visit the Public Investment Fund (PIF) booth on day two of the Future Investment Initiative (FII) conference in Riyadh, Saudi Arabia, on Wednesday, Oct. 26, 2022. (Tasneem Alsultan/Bloomberg via Getty Images)

The Saudi investment efforts come amid growing criticism of Saudi Arabia’s dismal human rights record. Some U.S. activist groups have accused U.S. sports franchises looking to team up with Saudi Arabia of perpetrating “sports washing” of Saudi human rights violations.

Follow Warner Todd Huston on Facebook at: facebook.com/Warner.Todd.Huston, or Truth Social @WarnerToddHuston

Arabia Fund International invest Launch Leagues multibilliondollar Saudi Sports
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

‘Hard-Asset Family’: Trump Sons Launch Bitcoin Mining Venture

March 31, 2025

Eli Lilly Announces Plan To Invest $27 Billion In America Amid Trump Tariff Threats

February 26, 2025

101 International Women’s Day Quotes for Inspiration, Motivation and Empowerment

February 6, 2025

Indonesia Approves Creation of Second Sovereign Investment Fund

February 5, 2025
Add A Comment

Leave A Reply Cancel Reply

Top Posts

Behind the scenes of Angela Lee’s touching tribute to Victoria Lee

June 27, 2023

ESPN Enters Sports Gambling in $2 Billion Deal With Casino Company

August 9, 2023

Latest England Nurse Strike May Be Against The Law

April 23, 2023

NiSource to sell $2.15 billion stake in Indiana unit to Blackstone

June 21, 2023
Don't Miss

Trump Announces First Post-Tariff Trade Deal

Business May 8, 2025

President Donald Trump announced Thursday the U.S. has reached a trade agreement with the U.K.,…

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025

Top 10 Benefits Of Acupuncture

May 8, 2025

Electric Vehicle Sales Nosedive As GOP Takes Buzzsaw To Biden’s Mandate

May 7, 2025
About
About

This is your World, Tech, Health, Entertainment and Sports website. We provide the latest breaking news straight from the News industry.

We're social. Connect with us:

Facebook Twitter Instagram Pinterest
Categories
  • Business (4,110)
  • Entertainment (4,220)
  • Finance (3,202)
  • Health (1,938)
  • Lifestyle (1,626)
  • Politics (3,084)
  • Sports (4,036)
  • Tech (2,006)
  • Uncategorized (4)
  • World (3,944)
Our Picks

YouTube Censors Jordan Peterson Interview of Robert F. Kennedy Jr.

June 20, 2023

Biden says final US debt ceiling deal ready to move to Congress for vote

May 29, 2023

New York protest against migrant shelters turns violent, 5 arrested

August 29, 2023
Popular Posts

Trump Announces First Post-Tariff Trade Deal

May 8, 2025

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025

Top 10 Benefits Of Acupuncture

May 8, 2025
© 2025 Patriotnownews.com - All rights reserved.
  • Contact
  • Privacy Policy
  • Terms & Conditions

Type above and press Enter to search. Press Esc to cancel.