On Thursday, Saudi Arabia’s sovereign wealth fund declared itself an “official tournament supporter” of the World Cup, reiterating its dedication to making significant investments in sports, even amidst recent withdrawals from other projects.
In its announcement, the Public Investment Fund (PIF) emphasized that sports remain a “priority sector,” with soccer playing a pivotal role in the “ongoing transformation of Saudi Arabia.”
This month, PIF revealed its decision to cease future funding for LIV Golf, the controversial breakaway tour into which it has invested billions, raising concerns about its long-term strategies for other sports following significant expenditures in recent years.
While the financial details of the World Cup agreement, which encompasses North America and Asia, were not disclosed, the partnership further solidifies Saudi Arabia’s relationship with FIFA, the international governing body for soccer.
PIF’s SURJ Sports Investment also holds a stake in DAZN, an online streaming service that broadcasts the Club World Cup.
According to FIFA’s financial reports, broadcasting rights provided “the lion’s share” of its annual revenue in 2025, totaling over $1 billion.
Saudi Arabia has focused extensively on soccer as it strives to reduce its dependence on oil and explore alternative revenue-generating avenues.
This approach has involved attracting some of the sport’s biggest names, including Cristiano Ronaldo, Neymar, and Karim Benzema, to its domestic league, along with the acquisition of Premier League club Newcastle. Hosting the World Cup stands out as a remarkable achievement thus far.
Critics have accused the kingdom of engaging in “sportswashing,” using sports to enhance its public image amid concerns regarding its human rights record and the assassination of Washington Post journalist Jamal Khashoggi in 2018.
The launch of the contentious LIV Golf tour in 2022 disrupted traditional golfing norms, attracting top players such as Bryson DeChambeau, Phil Mickelson, Brooks Koepka, and Dustin Johnson away from the PGA, with LIV Golf’s expenditures projected to exceed $6 billion by the year’s end.
While there has been a slowdown in the inflow of top soccer players to the Saudi league after a previous aggressive recruitment campaign, PIF has reiterated its commitment to the world’s most popular sport.
“PIF continues to expand its global presence in sports, with football at the core of this growth,” said Mohamed AlSayyad, head of corporate branding.