Newcastle United owners secure seven-figure deal with 'transformative' sports move

Newcastle United's majority owners have agreed to a multi-year, seven-figure deal with the men's tennis tour following several objections from the sport's legends.

Saudi Arabia's Public Investment Fund announced a "multiyear strategic partnership" with the ATP Tour which will see the ATP rankings and the year-end No.1 award named after the PIF. Additionally, PIF on-court branding will be visible at numerous ATP 1000 events including the upcoming Indian Wells, Miami, Madrid, Beijing and the ATP finals in Turin at the end of the season.

It was announced in August the Next Gen finals for men under 21 will take place in Jeddah until 2027 with the prize fund increased to £1.57m.

Massimo Calvelli, the ATP chief executive officer, said: “Our strategic partnership with PIF marks a major moment for tennis. It’s a shared ­commitment to propel the future of the sport. With PIF’s dedication to the next generation – fostering innovation and creating opportunities for all – the stage is set for a transformative new period of progress.”

PIF has owned 80% of Newcastle United since its £305m takeover from Mike Ashley in 2021.

While Saudi Arabia does not have a 1000 tournament of its own yet, rumours of PIF bidding for the women's WTA Finals prompted backlash from tennis legends Chris Evert and ­Martina Navratilova. At the time, Newcastle United co-owner Mehrdad Ghodoussi shared an Instagram story asserting their claims about women's experience in the kingdom were false.

PIF has been working on deals to infiltrate into the sport for some time, with several big names already having played exhibition games in Saudi. Most notably, a new event titled the "6 Kings Slam" which will feature Rafael Nadal, Novak Djokovic, Carlos Alcaraz, Jannik Sinner, Daniil Medvedev and Holger Rune will take place this October.

22-Grand Slam champion Nadal was also named ambassador for the Saudi Tennis Federation last month.

Mohamed AlSayyad, Head of Corporate Brand at PIF, said: "As PIF expands its portfolio of innovative sponsorships, our commitment to 'Invested in Better' remains unwavering. Through our collaboration with ATP, PIF will be a catalyst for growth of the global tennis landscape, developing talent, fostering inclusivity and driving sustainable innovation. This strategic partnership aligns with our broader vision to enhance quality of life and drive transformation in sport both within Saudi and across the world.''