A fund set up by a Saudi sovereign wealth fund will invest in an MMA promotion company and create a regional tournament.
A company founded by Saudi Arabia’s sovereign wealth fund will acquire a minority stake in the U.S. Professional Fighters League (PFL) and create regional tournaments as Saudi sports investment push expands into mixed martial arts (MMA). It’s planned.
The acquisition announced on Wednesday is the first deal signed by the Saudi Public Investment Fund (PIF), a new company announced earlier this month, SRJ Sports Investments, with the aim of attracting “major global events” to Saudi Arabia. There is.
“Today marks another milestone for SRJ as we make our first investment,” SRJ Chairman Vander Bin Moghren said in a statement. “This investment aims to develop the local and regional talent pool in martial arts, promote gender equality in the sport and bring new opportunities directly to Saudi Arabia and the wider MENA region.”
The PFL plans to launch the MENA (Middle East and North Africa) League next year and host other “mega events” in Saudi Arabia, according to an announcement on Wednesday.
“PFL’s mission is to be the global co-leader in MMA with our fighters-first mission and disruptive sports season format,” said PFL Founder and Chairman Don Davis. “This investment by SRJ continues the incredible growth that PFL has experienced around the world, and there is no better partner in global sport than SRJ.”
The purchase price was not disclosed, but the Financial Times reported it at $100 million.
Sport is a key part of oil-rich Saudi Arabia’s efforts to rebrand itself as a global business and tourism destination under the Vision 2030 reform agenda driven by PIF chairman Crown Prince Mohammed bin Salman. It is an important element.
Saudi Arabia has invested heavily in golf, F1 and soccer in recent years, with Saudi clubs signing top soccer players such as Cristiano Ronaldo and Neymar.
But the flurry of deals and negotiations has also fueled allegations of “sportswashing,” or the use of sport to distract from Saudi Arabia’s often-criticized human rights record.
Just a decade ago, MMA had a limited following in Saudi Arabia, but that began to change in 2014 when the kingdom hosted a popular regional desert force competition.
Since then, the sport’s popularity has skyrocketed with the rise of fighters from across the Middle East and the establishment of the National Mixed Martial Arts Foundation to foster talent in Saudi Arabia.
Saudi fighters Abdullah Al Qahtani and Mostafa Rashed Neda win in a high-profile bout at New York’s Madison Square Garden hosted by PFL, which built on the success of the Ultimate Fighting Championship this month. I got it.
The plan is to launch PFL Europe in 2023 and establish six international regional leagues by 2026, including the creation of what it calls the first-ever “MMA Champions League.”
