- In a historic moment for women's tennis, PIF will serve
as the first-ever naming partner of the WTA Rankings
- PIF and WTA will also work together to enhance and develop
initiatives to support players at all levels
NEW YORK, May 20, 2024 /PRNewswire/ -- The Public
Investment Fund (PIF) and the WTA have today unveiled a multi-year
partnership that will support their shared ambition to grow women's
professional tennis and inspire more women and girls around the
world to take up the game. The partnership will also enhance and
develop initiatives that support players at all levels.
As a Global Partner of the WTA, PIF will become the first-ever
naming partner of the WTA Rankings, the highest official rankings
for women's professional tennis players. The PIF WTA Rankings will
track players' journeys, and PIF will work with the WTA to
celebrate and support players' progress and their inspirational,
unique stories.
In addition, as part of its commitment to inspire youth, PIF
will work with the WTA to expand existing initiatives and develop
new opportunities for young players, providing a significant boost
to the game's next generation of stars.
In February 2024, PIF announced
its partnership with the ATP and became the official naming partner
of the PIF ATP Rankings. PIF has now become the only global partner
across both the WTA and ATP Tours. PIF has also partnered with
combined WTA 1000 and ATP Masters 1000 tournaments in Indian Wells,
Miami and Madrid, in addition to the Beijing WTA 1000
and ATP 500 events.
The new partnership between the WTA and PIF follows the recent
announcement that the season-ending WTA Finals will be hosted in
Riyadh for the next three years,
starting in 2024, and featuring the top eight singles players and
doubles teams in the race to the WTA Finals.
The WTA partnership adds to PIF's growing sponsorship portfolio,
which focuses on investing in people, initiatives and partnerships;
and embraces the brand's four strategic pillars: inclusivity,
sustainability, youth and technology. This partnership aligns with
numerous other PIF initiatives that focus on women in sport.
Marina Storti, CEO of WTA
Ventures, said: "We are delighted to welcome PIF as a
Global Partner of the WTA and our first-ever official naming
partner of the WTA Rankings. Together, we look forward to sharing
the journey of our talented players across the season, as we
continue to grow the sport, creating more fans of tennis and
inspiring more young people to take up the game."
Mohamed AlSayyad, Head of
Corporate Brand at PIF, said: "Through our partnership with
WTA, PIF will continue to be a catalyst for the growth of women's
sport. We look forward to working with the WTA to increase
participation and inspire the next generation of talent.
Underpinned by PIF's four strategic sponsorship pillars, this
partnership aligns with our ambition to elevate the game and bring
positive growth to the sport around the world."
PIF's program of sponsorships uncovers new potential, investing
in people, initiatives and partnerships that drive positive impact
on the global stage. PIF is a catalyst for transformation globally,
uplifting and enhancing sport for players, fans, tournaments and
stakeholders at every level.
About the PIF WTA Rankings
The PIF WTA Rankings are based on a rolling 52-week, cumulative
system with a player's ranking determined by results at a maximum
of 18 tournaments for singles and 12 for doubles. Points are
awarded based on the level of tournament and a player's
round-by-round progression at that tournament. Since the
introduction of the computer rankings on November 3, 1975, only 29 women have climbed to
the top of the singles ranking to become World No. 1. Only 15 women
have held the distinction as the singles year-end World No. 1 with
26 women as the doubles year-end No. 1.
About the WTA
Founded by Billie Jean King in
1973 on the principle of equal opportunity, the WTA (Women's Tennis
Association) is the global leader in women's professional sports.
The WTA is one of the world's most recognizable and high-profile
sports organizations, consisting of more than 1600 players
representing over 80 nations, all competing to earn WTA rankings
points and prestigious tournament titles. The Hologic WTA Tour is
comprised of over 70 events and four Grand Slams, spanning 30
countries and regions across six continents with a global audience
of one billion. Further information on the WTA can be found at
wtatennis.com.
WTA Ventures is the commercial arm of the WTA, created in
March 2023 as part of the WTA's
strategic partnership with CVC Capital Partners. It aims to build
upon the strong legacy the WTA has established over the past 50
years by further elevating the profile of women's tennis and
accelerating commercial growth for the benefit of fans, players,
tournaments and all stakeholders in the sport.
About PIF
The Public Investment Fund (PIF) is one of the largest and most
impactful sovereign wealth funds in the world. Since 2015, when the
board was reconstituted and oversight transferred to the Council of
Economic and Development Affairs, PIF's board of directors has been
chaired by His Royal Highness Crown Prince Mohammed bin Salman bin Abdulaziz, Prime
Minister, Chairman of the Council of Economic and Development
Affairs, and Chairman of the Public Investment Fund. PIF plays a
leading role in advancing Saudi
Arabia's economic transformation and diversification, as
well as contributing to shaping the future of the global economy.
Since 2017, PIF has established over 90 companies. PIF is building
a diversified portfolio by entering into attractive and long-term
investment opportunities in 13 strategic sectors in Saudi Arabia and globally. www.pif.gov.sa
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