Saudi Arabia’s sovereign wealth fund announced on an investment in US mixed martial arts (MMA) on Wednesday, in yet another move by the kingdom to establish itself as a major player in global sports.
SRJ Sports Investments, which is wholly owned by the Saudi Public Investment Fund, made the agreement with the US-based Professional Fighters League (PFL). SRJ Sports Investments will acquire a minority ownership stake in the league as well as invest in new league for the region called PFL MENA to debut in 2024. They will also work together to host “mega events” in Saudi Arabia, according to a press release.
While the financial terms of the deal were not disclosed, the Financial Times reported that the Saudi investment amounts to $100 million.
SRJ Sports Investments was unveiled earlier this month and the deal with the Professional Fighters League is its first, according to Agence France-Presse.