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Home » News » PIF denies That it has made A ‘Non-negotiable’ offer of $2Billion to Unite tennis tours

PIF denies That it has made A ‘Non-negotiable’ offer of $2Billion to Unite tennis tours

Saudi Arabia’s Public Investment Fund (PIF) has withdrawn from any kind of reports which suggests that it has made a $2billion (£1.5bn) “non-negotiable” offer to unite tennis’s ATP and WTA Tours, asserting that it has no intention of disrupting the sport.

Andrea Gaudenzi, Chairman of the ATP briefed representatives of the nine ATP Masters 1000 tournaments on Saturday about the bid which would see them incorporate both the men’s and women’s tours in California. According to the reports from Telegraph it further stated that Gaudenzi is believed to have informed the nine ATP Masters 1000 tournaments that an offer had arrived from PIF that was a pressing matter giving all concerned 90 days to accept.

Even though PIF has restrained itself on commenting about the reports but sources have refused to believe that there is a deadline. Speculation about any offers is premature as talks continue with the various bodies. Stressing this is necessary until negotiations conclude. Sources from Saudi also turned down on suggestions that PIF is trying to “buy tennis”, emphasizing their desire to integrate into the sport’s “existing ecosystem.”

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Saudi Arabia In An Attempt to Transform Tennis, Maybe For The Good

In the latest example of the kingdom’s investment in sport, the ATP Tour agreed a “multiyear stra­tegic partnership” with PIF at the end of last month. Therefore, the ATP rankings, as well as the the year-end world No 1 award, will be named after the PIF. The PIF will also feature on-court branding at major ATP 1000 events including Indian Wells, Miami, Madrid, and Beijing, as well as at the season-ending ATP Finals in Turin.

But contrary to golf, where the LIV Golf Series, backed by PIF has proven to be a major disruptor of the status quo. Saudi Arabia’s approach to tennis with the people who are participating in it is to be collaborative. They want to work with the existing governing bodies in an attempt to grow participation among the general population in the kingdom. Saudi is anticipated to be confirmed as the new hosts of the end-of-season finals for both the ATP and WTA tours. Chris Evert and Martina Navratilova are among those who have opposed this move.

According to the reports from Telegraph, stated the proposed agreement with PIF would see Saudi Arabia host a Masters 1000 tournament as well in the first week of the season. This would directly compete with the mixed-gender United Cup team competition, currently held in Australia before the Australian Open. Tennis Australia’s Craig Tiley is reported to have strongly opposed this idea.

The ATP and WTA tours have been in negotiations over a potential merger for some time now. The four grand slams are yet to reach an agreement over a new Premium Tour model as well that would lead to uniting of men’s and women’s tennis and offer equal pay to both genders.