2023-08-06 12:00:12
Dubai, United Arab Emirates (CNN) – The Saudi Public Investment Fund announced, on Sunday, the establishment of the “Sarj” company for sports investments, to support and enable the growth of the sports sector in the Kingdom and the Middle East and North Africa region, according to a statement by the fund published on its website.
The statement added: “Sarj Sports Investment Company will invest in obtaining property rights to establish new sporting events, in addition to investing in commercial rights for sports tournaments, and hosting international sporting events, in a way that achieves the company’s goals in achieving financial returns, and supports the localization of partnerships in various fields.” throughout the Kingdom and the Middle East and North Africa region.
And the statement added: “Sarj Company aims to invest in fan-related activities, and it will employ advanced sports technologies to develop the sector, thus contributing to strengthening the Kingdom’s position as a sports and entertainment destination.”
Raed Ismail, Director of Direct Investments in the Middle East and North Africa Region at the Public Investment Fund, said: “We are pleased to announce the establishment of the (Sarj) Sports Investment Company, which aims to develop the sports and entertainment sector in the Kingdom, the Middle East and North Africa.”
Ismail added, “SARJ will contribute to advancing development in the sector by exploring investment opportunities in intellectual property rights for sports activities, hosting international sporting events, and investing in advanced sports technologies,” according to the statement.
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