{"id":640522,"date":"2026-05-01T10:00:08","date_gmt":"2026-05-01T10:00:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/640522\/"},"modified":"2026-05-01T10:00:08","modified_gmt":"2026-05-01T10:00:08","slug":"saudi-arabia-committed-to-hosting-new-atp-tennis-event-amid-scaling-back-of-investments","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/640522\/","title":{"rendered":"Saudi Arabia committed to hosting new ATP tennis event amid scaling back of investments"},"content":{"rendered":"

Amid the rapidly moving pieces of the Saudi sports investment landscape, SURJ Sports Investment \u2013 a PIF subsidiary \u2013 has reiterated its commitment to staging an ATP Masters 1000 tournament in Saudi Arabia starting 2028.<\/p>\n

The PIF has been scaling back its sports investments in recent weeks, most notably in golf, where on Thursday the country’s Public Investment Fund said it would end its funding for LIV Golf<\/a> at the end of the 2026 season.<\/p>\n

Last month, the PIF announced it had sold a 70 per cent stake in Saudi Pro League club Al Hilal<\/a> and revealed the fund\u2019s 2026-2030 five-year investment strategy, which was described by PIF governor Yasir Al Rumayyan as \u201ca natural next step in PIF\u2019s growth journey. It offers our partners more opportunities to invest in high-quality assets and ecosystems, alongside PIF.\u201d<\/p>\n

When it comes to tennis, the first two professional events hosted by the Kingdom, the Next Gen ATP Finals in Jeddah and the WTA Finals in Riyadh, are both set to leave Saudi Arabia.<\/p>\n

The PIF has been the presenting partner for both tournaments.<\/p>\n

As first reported by the newsletter Bounces<\/a>, the WTA Finals will find a new home after its third and final staging in Riyadh later this year.<\/p>\n

Meanwhile, The National broke the news<\/a> last November that the Next Gen ATP Finals would not complete its intended five-year stay in Jeddah, with last December\u2019s edition being the third and final one staged in Saudi Arabia.<\/p>\n

Despite the general tide shifting, SURJ Sports Investment has no intention of ditching its plans \u2013 announced last October \u2013 to hold a new Masters 1000 tournament<\/a> in the Kingdom starting 2028.<\/p>\n

\u201cSURJ Sports Investment remains fully committed to the long-term development of premium tennis in Saudi Arabia and to the future ATP Masters 1000 tournament that is scheduled to join the calendar in 2028,\u201d Danny Townsend, SURJ Sports Investment CEO, said in a statement sent to The National on Thursday.<\/p>\n

\u201cOur strategy has always been anchored in building sustainable, world-class sports platforms over the long term. As with all of our investments, we continue to work closely with our partners to ensure the right conditions are in place for success, and we remain confident in the role this event will play within the Kingdom\u2019s broader sporting ecosystem.\u201d<\/p>\n

For the WTA, the search has already begun for a new host for the Finals.<\/p>\n

The deal with the Saudi Tennis Federation and the Ministry of Sport was a three-year agreement, from 2024-2026, but it is believed the Tour was hoping to extend its stay in Riyadh.<\/p>\n

Elena Rybakina pocketed $5.235 million for winning the WTA Finals<\/a> last November, which is the largest payout in women\u2019s tennis history.<\/p>\n

The National understands that the Saudis felt committing to a new deal did not make financial sense, which seems to be a mandate for most of the sports investments made by the Kingdom moving forward.<\/p>\n

The 2025 WTA Finals in Riyadh featured a record-breaking total prize pool of $15.5 million, but that amount does not factor in the substantial license fee and operational expenses that come with hosting an event like that.<\/p>\n

Discussions have already started regarding the future of the Finals and sources say there is strong interest from multiple cities to host the season-ending championships.<\/p>\n

In a statement sent to The National, a WTA spokesperson said: \u201cWe have an incredible opportunity to bring the WTA Finals, a world-class, premium global event showcasing the best in women’s tennis, to a new home.<\/p>\n

\u201cThis is a historic moment in women’s sports, and we are having conversations around the globe with potential partners.<\/p>\n

\u201cNo decisions have been made yet about a location for the 2027 Finals, but as with all decisions regarding the future of the WTA, we are working closely with players and focused on continuing to build a strong future for women\u2019s tennis.\u201d<\/p>\n

The 2026 WTA Finals are scheduled to take place in Riyadh from November 7-14.<\/p>\n

These are interesting times for the WTA Tour<\/a>, especially with last week\u2019s surprise revelation that Portia Archer has left her position as CEO after just 21 months.<\/p>\n

The tour received a significant boost when it announced a historic 10-year sponsorship deal with Mercedes-Benz last December, valued at $50 million annually, and aimed at accelerating the process of reaching equal prize money by 2031.<\/p>\n

But the sudden departure of Archer and the need for a new host for the WTA Finals present new challenges for a tour that has been craving stability.<\/p>\n","protected":false},"excerpt":{"rendered":"Amid the rapidly moving pieces of the Saudi sports investment landscape, SURJ Sports Investment \u2013 a PIF subsidiary…\n","protected":false},"author":2,"featured_media":640523,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[442],"tags":[22932,49,48,13341,31127,82,2225,1320,593,20436],"class_list":["post-640522","post","type-post","status-publish","format-standard","has-post-thumbnail","category-tennis","tag-atp-tour","tag-ca","tag-canada","tag-saudi-arabia","tag-sport-team","tag-sports","tag-standard","tag-story","tag-tennis","tag-wta-tour"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/640522","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=640522"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/640522\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/640523"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=640522"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=640522"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=640522"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}