{"id":377,"date":"2026-05-14T23:34:09","date_gmt":"2026-05-14T23:34:09","guid":{"rendered":"https:\/\/jacksonvillemovingnews.com\/?p=377"},"modified":"2026-05-14T23:34:09","modified_gmt":"2026-05-14T23:34:09","slug":"sports-4","status":"publish","type":"post","link":"https:\/\/jacksonvillemovingnews.com\/?p=377","title":{"rendered":"Sports"},"content":{"rendered":"
\n

Saudi Arabia\u2019s sovereign wealth fund may have\u00a0pulled back from golf, but on Thursday it deepened its investment in soccer by becoming an \u201cofficial tournament supporter\u201d of the World Cup.<\/p>\n

Read more Supreme Court allows abortion pill to remain available by mail nationwide<\/a><\/p>\n

The kingdom’s public investment fund (PIF) announced this month that it was pulling the plug on future funding for LIV Golf, raising questions about its long-term plans for other sports after its enormous spending in recent years.<\/p>\n

But in announcing the partnership, it said sport was a \u201cpriority sector.\u201d<\/p>\n

The value of the deal, which covers North America and Asia, was not disclosed, but it further strengthens ties between Saudi Arabia and world soccer’s governing body.<\/p>\n

The oil-rich kingdom has won the rights to host the 2034 edition of the World Cup and PIF was a\u00a0commercial partner for last year’s Club World Cup.<\/p>\n

The PIF-owned SURJ Sports Investment also owns a stake online streamer DAZN, which broadcast the Club World Cup.<\/p>\n

According to FIFA accounts, television broadcasting rights had contributed \u201cthe lion\u2019s share\u201d of its annual revenue in 2025, worth more than $1 billion.<\/p>\n

Soccer has been a major focus for Saudi Arabia as it looks to\u00a0move away from its heavy reliance on oil\u00a0and look to other revenue-generating sectors.<\/p>\n

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That has included enticing some of the sport’s biggest stars like Cristiano Ronaldo, Neymar and Karim Benzema to its domestic league and buying Premier League club Newcastle. Winning the right to host the World Cup is its standout achievement so far.<\/p>\n

Investment in other sports includes hosting a number of world championship boxing matches, Formula One racing and tennis.<\/p>\n

The launch of the contentious\u00a0LIV Golf tour\u00a0in 2022 was a major disruptor for the sport, luring top players like Bryson DeChambeau, Phil Mickelson, Brooks Koepka and Dustin Johnson away from the PGA. LIV Golf’s spending is\u00a0expected to exceed $6 billion\u00a0by the end of the year.<\/p>\n

While there has been a slowdown of top soccer players heading to the Saudi league after its earlier aggressive recruitment drive, PIF said the sport was \u201ccrucial role in the ongoing transformation of Saudi Arabia.\u201d<\/p>\n

\u201cPIF continues to expand its global footprint in sport, with football at the heart of this growth,” head of corporate brand Mohamed AlSayyad said.<\/p>\n

Read more D\u00edaz-Canel says he would accept U.S. donations but calls for \u201crelief from the embargo\u201d<\/a><\/p>\n

\n\t\t\t\t\t\t\t\tGianni Infantino is the current president of the Federation Internationale de Football Association\n\t\t\t\t\t\t\t<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Saudi Arabia\u2019s sovereign wealth fund on Thursday deepened its investment in soccer by becoming an \u201cofficial tournament supporter\u201d of the World Cup.<\/p>\n","protected":false},"author":1,"featured_media":376,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[74],"tags":[],"class_list":["post-377","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fifa-world-cup"],"yoast_head":"\nSports - Jacksonville Moving News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/jacksonvillemovingnews.com\/?p=377\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sports - Jacksonville Moving News\" \/>\n<meta property=\"og:description\" content=\"Saudi Arabia\u2019s sovereign wealth fund on Thursday deepened its investment in soccer by becoming an \u201cofficial tournament supporter\u201d of the World Cup.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/jacksonvillemovingnews.com\/?p=377\" \/>\n<meta property=\"og:site_name\" content=\"Jacksonville Moving News\" \/>\n<meta property=\"article:published_time\" content=\"2026-05-14T23:34:09+00:00\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/jacksonvillemovingnews.com\\\/?p=377#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/jacksonvillemovingnews.com\\\/?p=377\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\\\/\\\/jacksonvillemovingnews.com\\\/#\\\/schema\\\/person\\\/bd97a0052a7a1d8119a1fd0b85af888b\"},\"headline\":\"Sports\",\"datePublished\":\"2026-05-14T23:34:09+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/jacksonvillemovingnews.com\\\/?p=377\"},\"wordCount\":430,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/jacksonvillemovingnews.com\\\/?p=377#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/jacksonvillemovingnews.com\\\/wp-content\\\/uploads\\\/2026\\\/05\\\/2f1e0dfa200b516dbba3489028cb5a85.webp\",\"articleSection\":[\"FIFA World Cup\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/jacksonvillemovingnews.com\\\/?p=377#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/jacksonvillemovingnews.com\\\/?p=377\",\"url\":\"https:\\\/\\\/jacksonvillemovingnews.com\\\/?p=377\",\"name\":\"Sports - 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