Seb Coe to fulfill with PIF at Saudi GP over funding in athletics
Lord Coe will attend this weekend’s Saudi Arabian Grand Prix as athletics seeks to turn into the newest sport to obtain funding from the Gulf state.
Mail Sport understands the World Athletics president is about to fulfill representatives of Saudi’s Public Investment Fund throughout his keep in Jeddah.
If talks are profitable, a sponsorship deal may very well be struck with PIF, which can additionally result in a serious monitor and discipline occasion being hosted within the Middle East nation for the primary time.
World Athletics are planning to launch a brand new end-of-season world competitors in 2026 and are at present sounding out potential host cities.
While that occasion could show too quickly for Saudi Arabia, the cash-rich kingdom might look to stage the World Athletics Championships in 2031 or 2033 as a substitute.
Seb Coe will probably be in attendance at this weekend’s Formula One Grand Prix in Saudi Arabia
All eyes will flip to Jeddah this weekend as Max Verstappen will look to proceed his dominant begin to the Formula One season
Athletics may very well be the subsequent main sport to obtain funding from the Gulf state, with Coe set to fulfill PIF representatives to debate a possible sponsorship deal
Coe has been open about his makes an attempt to draw contemporary funding from beforehand untapped sources.
The want for brand new backers has turn into particularly related in latest days given the specter of Michael Johnson big-money breakaway league, which he plans to launch subsequent 12 months.
Before final weekend’s World Indoor Championships in Glasgow, Coe was requested instantly whether or not he was chatting with PIF and stated: ‘There are some global discussions going on and I am comforted by that.
‘We made a strategic decision to grow the sport organically. We felt there were some income streams that we could tap into.
‘We’re having conversations every day with hedge funds and venture capitalists and with organisations who want to bring in fresh resources.’
Saudi Arabia has hosted plenty of main sporting occasions lately, resulting in accusations the nation is trying to ‘sportswash’ its appalling human rights document.
This week alone, a brand new World Masters of Snooker match concluded in Riyadh, with Ronnie O’Sullivan beating Luca Brecel in Wednesday’s last to win £250,000.
Coe has been open about his makes an attempt to draw contemporary funding from beforehand untapped sources
Athletics legend Michael Johnson has introduced plans for a breakaway league two weeks in the past
The ATP tennis tour introduced a five-year sponsorship cope with the PIF on the finish of February
The PIF additionally fund LIV Golf, with the governer of the PIF, Yasir Al-Rumayyan, right here pictured (second left) subsequent to former US President Donald Trump (first left) and LIV CEO Greg Norman (third left)
Anthony Joshua can also be combating Francis Ngannou in Riyadh on Friday, with the Formula One race in Jeddah happening the subsequent day.
At the tip of final month, the ATP tennis tour introduced a five-year sponsorship cope with PIF, who additionally run LIV Golf and personal 4 of the groups within the Saudi Pro League, in addition to Newcastle United in England.
British middle-distance star Josh Kerr, the world 1500m champion, stated final weekend he could be keen to race in Saudi if it meant there was more cash in athletics.
‘We are walking a fine line with some of the LIV Golf stuff,’ he stated. ‘But if people want to come and invest money in the sport then I think it is needed.’
The World Athletics Championships have been to the Middle East as soon as earlier than after they have been held in Doha, Qatar in 2019.
