- In a historic moment for women’s tennis, PIF will be the first partner of the WTA Rankings
- The PIF and WTA will also work together to strengthen and develop initiatives to support players at all levels
new York, May 20, 2024 /PRNewswire/ — The Public Investment Fund (PIF) and the WTA today unveiled a multi-year partnership that will support their shared ambition to grow women’s professional tennis and inspire more women and girls around the world to take up the game . The partnership will also strengthen and develop initiatives that support players at all levels.
As a global partner of the WTA, PIF will become the first naming partner of the WTA Rankings, the highest official ranking for women’s professional tennis players. The PIF WTA Rankings will track the players’ journeys and the PIF will partner with the WTA to celebrate and support the players’ progress and their inspiring, unique stories.
In addition, as part of its commitment to inspire youth, the PIF will work with the WTA to expand existing initiatives and develop new opportunities for young players, providing a significant boost to the game’s next generation of stars.
In February 2024, the PIF announced its partnership with the ATP and became the official name partner of the PIF ATP Rankings. The PIF has now become the sole global partner of both the WTA and ATP Tours. PIF has also partnered with combined WTA 1000 and ATP Masters 1000 tournaments in Indian Wells, Miami and Madridexcept for the WTA 1000 and ATP 500 Beijing events.
The new partnership between the WTA and the PIF follows the recent announcement that the end-of-season WTA Finals will be hosted at the Riyadh for the next three years, starting in 2024, with the top eight singles and doubles teams competing for the WTA Finals.
The WTA partnership adds to PIF’s growing sponsorship portfolio, which focuses on investing in people, initiatives and partnerships. and embraces the four strategic pillars of the brand: participation, sustainability, youth and technology. This partnership aligns with many other PIF initiatives focused on women in sport.
Marina StortiCEO of WTA Ventures, said: “We are delighted to welcome PIF as a global partner of the WTA and our first official naming partner of the WTA Rankings. Together, we look forward to sharing the journey of our talented players throughout the season as we continue to grow the sport, creating more tennis fans and inspiring more young people to take up the game.”
Mohammed Al SayedHead of Corporate Branding at PIF, said: “Through our partnership with the WTA, the PIF will continue to be a catalyst for the growth of women’s sport. We look forward to working with the WTA to increase participation and inspire the next generation of talent. Supported by its four strategic sponsorship pillars PIF, this partnership is in line with our ambition to elevate the game and bring positive growth to the sport around the world.”
PIF’s grantmaking program unlocks new possibilities by investing in people, initiatives and partnerships that have a positive impact on the global stage. The PIF is a catalyst for transformation worldwide, stimulating and empowering sport for players, fans, tournaments and stakeholders at every level.
About the PIF WTA Ranking
The PIF WTA Rankings are based on a 52-week rolling cumulative system with a player’s ranking determined by results in a maximum of 18 singles and 12 doubles tournaments. Points are awarded based on the level of the tournament and the player’s progress per round in that tournament. Since the introduction of computer ranking on November 3, 1975only 29 women have climbed to the top of the singles rankings to become world No.1. Only 15 women hold the distinction of year-end No. 1 singles with 26 women as year-end No. 1 doubles.
About the WTA
Founded by Billie Jean King in 1973 based on the principle of equal opportunities, the WTA (Women’s Tennis Association) is the world leader in women’s professional sports. The WTA is one of the most recognizable and high-profile sports organizations in the world, consisting of more than 1600 players representing over 80 nations, all competing to earn WTA ranking points and prestigious tournament titles. The Hologic WTA Tour consists of more than 70 events and four Grand Slams, spanning 30 countries and territories on six continents with a global audience of 1 billion. More information about the WTA can be found at wtatennis.com.
WTA Ventures is the commercial arm of the WTA, created in March 2023 as part of WTA’s strategic partnership with CVC Capital Partners. It aims to build on the strong legacy the WTA has built over the past 50 years, further raising the profile of women’s tennis and accelerating commercial growth for the benefit of fans, players, tournaments and all stakeholders in the sport.
About PIF
The Public Investment Fund (PIF) is one of the largest and most important sovereign wealth funds in the world. Since 2015, when the board was reconstituted and oversight transferred to the Economic and Development Affairs Council, the PIF board is chaired by His Royal Highness the Crown Prince Muhammad bin Salman bin Abdulaziz, Prime Minister, Chairman of the Economic and Development Affairs Council and Chairman of the Public Investment Fund. PIF plays a leading role in progress of Saudi Arabia economic transformation and diversification, as well as contributing to shaping the future of the global economy. As of 2017, PIF has established more than 90 companies. PIF builds a diversified portfolio by introducing attractive and long-term investment opportunities in 13 strategic sectors Saudi Arabia and globally. www.pif.gov.sa
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SOURCE Public Investment Fund