FIFA signs another Saudi deal with sovereign wealth fund PIF backing Club World Cup

Winnipeg Free Press

a day ago

GENEVA (AP) — FIFA took another Saudi Arabian investment Thursday for the U.S.-hosted Club World Cup, announcing a top-tier commercial deal with the kingdom's sovereign wealth fund, which holds majority ownership of one of the 32 teams playing.
The Saudi state's Public Investment Fund (PIF) is the 75% owner of Riyadh club Al-Hilal, one of four teams in the national league it has controlled since 2023. PIF also created the LIV Golf project.
FIFA said PIF was an official partner of the June 14-July 13 tournament being played in 11 American cities, though the value of the deal was not stated.
Saudi state money also is effectively funding the Club World Cup broadcasting deal that has largely backed the $1 billion tournament prize fund being shared among the 32 teams, including Al-Hilal, which will get an entry payment of $9.55 million.
FIFA announced a global broadcast deal for the Club World Cup with streaming service DAZN in December, two days before confirming Saudi Arabia as host of the men's 2034 World Cup.
A widely speculated Saudi investment in DAZN, reported to be around $1 billion, was confirmed several weeks later.
FIFA also signed Saudi state oil company Aramco to a World Cup sponsor this year.
The U.S. is hosting the first 32-team Club World Cup which will played every four years by teams that won an edition of a continental club championship, or ranked highly by results over the four-year qualifying period. Inter Miami, with star player Lionel Messi, was invited by FIFA to represent the host nation.
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Al-Hilal won the Asian Champions League in 2021 and was drawn by FIFA in a group with Real Madrid, Pachuca and Salzburg.
The Club World Cup has become a personal project of FIFA President Gianni Infantino, who has built close ties since 2018 to Saudi Arabia and its Crown Prince Mohammed bin Salman, the chairman of PIF.
The gold Club World Cup trophy has spent much of this year at the White House with U.S. President Donald Trump, who is scheduled to present it to the winning team at the final at MetLife Stadium in East Rutherford, New Jersey. Trump also has worked closely with the LIV Golf tour.
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AP soccer: https://apnews.com/hub/soccer