Saudi Arabia continues its soccer push with World Cup deal

Saudi Arabia’s sovereign wealth fund may have pulled back from golf, but on Thursday, it deepened its investment in soccer by becoming an “official tournament supporter” of the World Cup.

The kingdom’s public investment fund (PIF) announced this month that it was pulling the plug on future funding for LIV Golf, raising questions about its long-term plans for other sports after its enormous spending in recent years.

But in announcing the partnership, it said sport was a “priority sector.”

The value of the deal, which covers North America and Asia, was not disclosed, but it further strengthens ties between Saudi Arabia and world soccer’s governing body.

The oil-rich kingdom has won the rights to host the 2034 edition of the World Cup and PIF was a commercial partner for last year’s Club World Cup.

The PIF-owned SURJ Sports Investment also owns a stake online streamer DAZN, which broadcast the Club World Cup.

According to FIFA accounts, television broadcasting rights had contributed “the lion’s share” of its annual revenue in 2025, worth more than $1 billion.

Soccer has been a major focus for Saudi Arabia as it looks to move away from its heavy reliance on oil and look to other revenue-generating sectors.

That has included enticing some of the sport’s biggest stars like Cristiano Ronaldo, Neymar and Karim Benzema to its domestic league and buying Premier League club Newcastle. Winning the right to host the World Cup is its standout achievement so far.

Investment in other sports includes hosting a number of world championship boxing matches, Formula One racing and tennis.

The launch of the contentious LIV Golf tour in 2022 was a major disruptor for the sport, luring top players like Bryson DeChambeau, Phil Mickelson, Brooks Koepka and Dustin Johnson away from the PGA. LIV Golf’s spending is expected to exceed $6 billion by the end of the year.

While there has been a slowdown of top soccer players heading to the Saudi league after its earlier aggressive recruitment drive, PIF said the sport was “crucial role in the ongoing transformation of Saudi Arabia.”

“PIF continues to expand its global footprint in sport, with football at the heart of this growth,” head of corporate brand Mohamed AlSayyad said.