The Saudi sovereign wealth fund has announced a new sports investment company designed to draw"major global events" to the kingdom, which has spent recent months luring top football stars.
It will"target businesses specialised in offering unique fan engagement activities and transformative sports technology across the industry, bolstering Saudi Arabia's position as one of the world's leading sports and entertainment destinations."Sports have been a major focus of the oil-rich kingdom's effort to rebrand as a global business and tourism destination under the Vision 2030 reform agenda pursued by Crown Prince Mohammed bin Salman, the PIF chairman.
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