PIF will sponsor the title of the up to date golf collection.
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Saudi Arabia deepens its funding in girls’s skilled golf.
The Public Funding Fund, the Saudi Saudi Arabic Wealth Fund, has introduced on Wednesday that it’ll develop into a title companion of 5 occasions to be held at The Women Europe Tour.
The phrases of the deal weren’t disclosed.
As a part of this final deal, the tour will replace the 5 occasions that might be collectively rebraited as PIF World Collection. The occasions are held in Riyadh, Saudi Arabia; Seoul, South Korea; London; Houston; and Shenzhen, China.
“PIF continues to be a catalyst for the expansion of girls’s sports activities, dedicated to offering a protracted -term transformative impression by inspiring and empowering feminine athletes at each degree,” mentioned Alanud Altonian, a pacesetter of occasions and sponsorships in PIF.
The up to date event format will embrace staff and particular person competitions that occur on the identical time.
The Saudis additionally put more money into the prize swimming pools, with a $ 13 million collective bag for 5 occasions.
Alexandra Armas, CEO of Women European Tour, mentioned partnership with PIF has helped to extend the extent of competitors within the girls’s sport and provides gamers extra alternatives to succeed on the world stage.
In recent times, Saudi Arabia has aggressively invested in skilled sports activities as a part of its imaginative and prescient for diversifying the nation’s financial system removed from oil. Even supposing Saudi Arabia was Slow to give the rights to women from Saudi ArabiaThese investments embrace spending huge cash on worldwide girls’s sports activities.
Final Could Fund signed a Perennial Partnership with WTA TourThe ladies’s skilled tennis group, to develop the sport and to enhance the advantages of girls within the league.
And in March PIF introduced that it will finance totally tour MaternityWhich might enable girls to take as much as one yr of depart utterly paid.
Nevertheless, the assault of PIF in males’s golf is extra difficult.
Practically two years in the past, PGA TOUR Commissioner Jay Monahan and PIF Governor Yasir Al-Rumayayan appeared on CNBCAnnouncement of merger between LIV GOLF and PGA Tour. However this deal has not but occurred, regardless of the newest press president Donald Trump To gather either side.
Aramko Korea Championship launched Friday in Seoul.
