Saudi Arabia’s Public Investment Fund has distanced itself from reports that it has made a $2bn (£1.5bn) “take-it-or-leave-it” offer to unite tennis’s ATP and WTA Tours, insisting it has no intention of disrupting the sport.
According to the Telegraph, the ATP chairman, Andrea Gaudenzi, briefed representatives of the nine ATP Masters 1000 tournaments on Saturday in California about the bid, which would merge the men’s and women’s tours. Gaudenzi is said to have informed them that an offer had arrived from PIF that was “time-sensitive” giving all concerned 90 days to accept.
PIF has declined to comment on the reports but sources have denied there is a deadline and stressed speculation about any offers are premature as talks continue with the various bodies. Saudi sources also dismissed suggestions that PIF is trying to “buy tennis”, stressing that it wants to be part of the “existing ecosystem” of the sport.
At the end of last month the ATP Tour agreed a “multiyear strategic partnership” with PIF in the latest example of the kingdom’s investment in sport. As a result the ATP rankings, plus the year-end world No 1 award, will be named after the PIF. The PIF will also have on‑court branding at major ATP 1000 events at Indian Wells, Miami, Madrid and Beijing, as well as the season-ending ATP Finals in Turin.
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But unlike in golf, where the PIF-backed LIV Golf Series has proven to be a major disruptor of the status quo, Saudi Arabia’s approach to tennis, those involved stress, is to be collaborative; working with the existing governing bodies as part of attempts to grow participation among the general population in the kingdom. Saudi Arabia is expected to be confirmed as the new hosts of the end-of-season finals for both the WTA and ATP tours, with Chris Evert and Martina Navratilova among those to have opposed the move.
The report in the Telegraph stated the proposed deal with PIF would also involve Saudi Arabia hosting a Masters 1000 tournament in the first week of the season. That would be in direct competition with the mixed-gender United Cup team competition that is currently hosted in Australia in the lead-up to the Australian Open, with Tennis Australia’s Craig Tiley said to have “strongly opposed” that idea.
The four grand slams have yet to reach agreement on a new Premium Tour model that would unite men’s and women’s tennis and offer equal pay to both genders, with the ATP and WTA tours having been in negotiations over a potential merger for some time. — Guardian
