DOHA (Pakistan Point News / Sputnik - 06th August, 2023) Saudi Arabia's Public Investment Fund (PIF) has established SRJ Sports Investments company to invest in sports in the middle Eastern and North African (MENA) countries, which will complement other PIF investments in the sports sector, the fund said on Sunday.
"The Public Investment Fund (PIF) today announced the establishment of SRJ Sports Investments, a sports investment company that aims to accelerate the growth of the sports sector in Saudi Arabia and MENA," the fund said in a statement.
SRJ Sports Investment will invest in obtaining intellectual property rights to organize sporting events, as well as commercial rights to hold international competitions and in advanced sports technology, the statement read.
"The company will complement other PIF investments in the sports sector, all of which are contributing to a more vibrant society, in line with PIF's strategy and Saudi Vision 2030," Raid Ismail, the head of MENA Direct Investments at PIF, said.
Saudi Arabia has been actively developing its sports infrastructure in recent years and is looking to make its football league one of the world's best.
