DealsSports
02 February 2024, 5:23 pm 1 minute
Reuters exclusively reported that Saudi Arabia-backed sports fund SRJ was in exclusive talks to back a new cycling league, which Reuters also exclusively reported was in the works back in October. The country is targeting yet another sport to upend in the wake of previous investments in golf, football and Formula One. The story was also picked up by ESPN.
Market Impact
If successful, the deal would mark Saudi Arabia’s first significant involvement in cycling after pouring billions into other sports worldwide such as football, motorsports and martial arts. Sports is one of the pillars of the government’s Vision 2030 economic diversification plan.
Article Tags
Topics of Interest: DealsSports
Type: Reuters Best
Sectors: Sports
Regions: Middle East
Countries: Saudi Arabia
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Significant National Story