Saudi Arabia Reportedly Exploring Investments in Cricket and Athletics

Saudi Arabia’s Public Investment Fund (PIF) is reportedly considering further expansion into global sports, with potential investments in a new Twenty20 (T20) cricket league and World Athletics. While no official announcements have been made, reports suggest that SURJ Sports Investments, a subsidiary of PIF, is assessing opportunities to strengthen its presence in both sports as part of the kingdom’s broader sports investment strategy.

One of the key areas of interest is a proposed global T20 league, which would introduce an eight-team franchise model inspired by the structure of tennis Grand Slams. Early reports indicate that the league could stage matches in multiple locations each year, with Saudi Arabia potentially hosting the final. If realised, the venture could see an investment of up to $500 million, aiming to create an additional platform for international cricketers while operating alongside existing leagues such as the Indian Premier League (IPL) and Australia’s Big Bash League (BBL). 

At the same time, Saudi Arabia is reportedly exploring a significant financial stake in World Athletics, the governing body for track and field sports. Talks are said to involve the establishment of a new commercial entity to manage the sport’s rights, with estimates suggesting a possible valuation of around £500 million ($635 million). If pursued, this would mark one of the most substantial private investments in athletics to date. While track and field has struggled to match the commercial success of other global sports, a fresh injection of capital could reshape competition structures, increase prize money, and enhance media rights deals.

Although these investment discussions remain speculative, they align with Saudi Arabia’s ongoing strategy of using sport as a vehicle for economic diversification and international engagement. In recent years, PIF has made major moves in football, motorsport, golf, and esports, positioning Saudi Arabia as a key player in the global sports industry. The potential involvement in cricket and athletics would build on these efforts, though questions remain over the broader implications.

If these investments materialise, they could significantly impact the governance and commercial direction of both sports. In cricket, a new T20 league backed by Saudi Arabia could create fresh opportunities. In athletics, external investment may provide much-needed financial stability but could lead to discussions about governance, commercial influence, and the balance between tradition and modernisation.

With no formal confirmation yet from PIF or the relevant sports organisations, the extent to which Saudi Arabia will move forward with these plans remains to be seen. However, the speculation alone highlights the continued role of sovereign wealth funds in reshaping the global sports landscape, with Saudi Arabia at the centre of many of these conversations.